May 26 (Reuters) – Elon Musk’s SpaceX is eligible for inclusion in both the Russell U.S. Equity Indexes and FTSE Global Equity Index Series under newly announced fast-entry rules, according to index provider FTSE Russell.
FTSE Russell, a London Stock Exchange Group business, proposed introducing a fast-entry mechanism for initial public offerings and revising eligibility requirements for its Russell U.S. Equity Indexes in February.
SpaceX is estimated to carry an investable market capitalization of about $70 billion, a figure that clears two major index eligibility thresholds — the $17.5 billion market-adjusted breakpoint for Russell Top 500 inclusion and the $13.5 billion fast-entry threshold set by the FTSE GEIS, the index provider said.
SpaceX’s listing is expected to be the highlight of what is shaping up to be one of the busiest years for IPOs in recent memory, with several high-profile venture-backed companies and startups, including OpenAI and Anthropic, laying the groundwork for their respective debuts.
Musk’s space venture, which is eyeing a public listing that could value it at $1.75 trillion, is expected to be added to Russell Top 50, Russell Top 200, Russell 1000 indexes.
It could be included in FTSE GEIS’ Global All Series, FTSE All-World, FTSE World Index, FTSE Global Total Cap.
The index provider, however, cautioned that the assessment is based on SpaceX’s current S-1 filing and limited publicly available information, which could be reassessed based on subsequent filings.
SpaceX is aiming to list its shares as early as June 12, with a roadshow launch targeted for June 4 and the share sale expected as early as June 11, Reuters has reported.
(Reporting by Juby Babu in Mexico City; Editing by Shilpi Majumdar)
