SpaceX IPO could hit $1.75T and gain MSCI fast-track inclusion
Business
SpaceX is about to go public, and thanks to MSCI's fast-track rules, it'll be likely to be added early to major global indexes, even though the company lost $4.94 billion last year.
The IPO could value SpaceX at a massive $1.75 trillion, putting it among the top 10 most valuable U.S.-listed companies.
MSCI funds must buy SpaceX shares
This early inclusion means big investment funds that follow MSCI would have to buy shares once SpaceX is added; about 7% of SpaceX shares will be up for grabs at launch.
Nasdaq and FTSE Russell are also letting SpaceX in quickly, but S&P Global is holding out since the company isn't profitable yet.
The final IPO price is set on June 11, with trading kicking off the next day.