SpaceX Favors Nasdaq Listing, Provided It Is Quickly Included in the Nasdaq 100 Index

Odaily News: According to four individuals familiar with the company's thinking, SpaceX, led by Elon Musk, is leaning towards listing on the Nasdaq. SpaceX hopes to be included in the Nasdaq 100 Index as soon as possible, which is seen as one of the necessary conditions for its listing on that exchange. Previous reports indicated that SpaceX is planning an IPO, potentially as early as June. Informed sources stated that the New York Stock Exchange is also vying for this listing project, and currently, neither exchange has been informed of the final decision. Last month, Nasdaq proposed a new rule that could accelerate the inclusion of newly listed large companies into the Nasdaq 100 Index. According to the "fast entry" rule, if a newly listed company's market capitalization ranking places it within the top 40 of the index's existing constituents, it could qualify for accelerated inclusion in less than a month after going public. The proposed changes have not been finalized and may take several months to take effect. Informed sources said that SpaceX is seeking a valuation of approximately $1.75 trillion for this IPO, which, based on the latest stock prices, would make it the sixth-largest company by market capitalization in the United States. (Reuters)