The global stock index compiler Morgan Stanley Capital International (MSCI) plans to include SpaceX in its index earlier than scheduled by the end of this month. According to Reuters, on the 8th (local time), MSCI announced it would apply existing rules for early inclusion of large IPO stocks in the global standard index. SpaceX, which is set to be listed on Nasdaq on the 12th, is likely to be included in the MSCI index about 10 trading days after its listing.
SpaceX’s corporate value is estimated at $1.75 trillion, making it large enough to enter the top 10 in market capitalization on the U.S. stock market immediately upon its listing.
The scale of passive funds tracking the MSCI index amounts to about $5.79 trillion. If SpaceX is included in the MSCI index, these funds will need to purchase SpaceX stocks, which is expected to result in a significant inflow of capital for SpaceX.
Previously, Nasdaq changed its rules to pave the way for SpaceX’s early inclusion in the Nasdaq-100 index. Index provider FTSE Russell also decided to include SpaceX in its index under recently introduced rules.
On the other hand, S&P Dow Jones Indices, which operates the S&P 500 index, stated that it will not change its index operation policy for early inclusion of ultra-large companies like SpaceX. Newly listed companies must wait at least 12 months after listing before they can be considered for inclusion in the S&P 500 index.