S&P Global Maintains Index Inclusion Criteria for SpaceX and Other Major IPOs

ChainCatcher reports that S&P Global has stated it will maintain its existing eligibility criteria for major benchmarks such as the S&P 500 Index, rejecting proposals to accelerate the inclusion of giant companies like SpaceX following their public listings. On Thursday, S&P Indices noted in a press release that it would not shorten the current 12-month "maturity period" for newly listed companies, nor waive existing profitability and public float requirements based on company size. This means SpaceX will not be eligible for inclusion in the S&P 500 Index until at least one year after its listing, and must also meet the index’s existing profitability and public float requirements: the company must have been profitable under GAAP in both the most recent quarter and the aggregate of the last four quarters, and must maintain a public float of at least 50%.