S&P Global reaffirms index rules, blocking early S&P 500 entry for SpaceX's massive IPO
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WATCH LIVE
Crisp on the outside, thoughtful on the inside. A keeper.
Summary
S&P Global has confirmed it will not change its index entry requirements, effectively blocking SpaceX from early inclusion in the S&P 500 index despite Elon Musk's unconventional IPO strategy. SpaceX is raising $75 billion at a $1.75 trillion valuation, which would make it one of the world's most valuable companies, but it will not receive expedited entry into major benchmark indices under current rules.
Key quotes
· 3 pulledS&P Global said on Thursday it was not changing the requirements for entry into its major indices
Musk has rewritten the IPO playbook for SpaceX in many ways from planning to give retail investors a bigger role in allocations to pushing for early index inclusion
The company is raising $75 billion and targeting a $1.75 trillion valuation that would place it among the top 10 most valuable
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