Nasdaq has announced a series of rule changes that could help Elon Musk-led SpaceX to be listed on the exchange within 15 days following its IPO. Here’s what you need to know:
Rule Changes To The Nasdaq 100
In a statement released on Monday, the index said it had sought feedback on a number of revisions to the Nasdaq 100 methodology, including market cap analysis and expedited entry into the index.
The proposed measures aimed to ensure that the index remained “timely and representative of the market it measures,” the statement said, adding that the decision would also let the index “be consistent with its objective of tracking the 100 largest non-financial companies,” on the platform.
Nasdaq proposed that it would include both listed and unlisted shares for calculating a company’s market capitalization for ranking and inclusion into the index. “This will only affect eligibility and not weighting, which remains based on listed market capitalization,” the statement said.
The index also proposed a “fast entry” for large listed companies into the exchange, which, according to an earlier release, would let new companies be added to the index …
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