On Friday, the SpaceX initial public offering suffered a major setback. Index provider S&P Global said it would not change its rules to fast-track the inclusion of Elon Musk’s company in its index.SpaceX would have to wait a minimum of 12 months, have a free float of at least 10 per cent and meet profitability tests if it is to be added to the S&P indices, which are closely tracked by trillions of dollars in institutional capital and exchange-traded funds.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles