SpaceX is leaning toward a public listing on the Nasdaq, provided it is included in the Nasdaq 100 index as soon as possible.
Svmuu News: Four people familiar with the company’s plans say that Musk’s SpaceX is leaning toward listing on the Nasdaq. SpaceX hopes to be included in the Nasdaq 100 index as soon as possible, which is seen as one of the prerequisites for listing on that exchange.Previous reports indicated that SpaceX is planning an IPO as early as June. Sources familiar with the matter said the New York Stock Exchange is also vying for the listing, though neither exchange has been informed of the final decision. Last month, Nasdaq proposed a new rule that could accelerate the inclusion of newly listed large-cap companies in the Nasdaq 100 Index.Under the “fast-track inclusion” rule, if a newly listed company’s market capitalization ranks among the top 40 of the index’s existing constituents, it could qualify for accelerated inclusion less than a month after its listing. The proposed changes have not yet been finalized and may take several months to take effect.Sources familiar with the matter said SpaceX is seeking a valuation of approximately $1.75 trillion in its IPO, which, based on its latest share price, would make it the sixth-largest U.S. company by market capitalization. (Reuters)
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