S&P Global Inc.: Mega IPOs Such as SpaceX Won't Be Quickly Added to S&P 500 Index

June 5: Standard & Poor’s Global announced Thursday it will retain eligibility criteria for key benchmarks including the S&P 500 Index, nixing a proposal to fast-track giant firms like SpaceX immediately after their initial public offering (IPO). In a press release, the S&P Index clarified it will not shorten the current 12-month “seasoning period” for newly listed companies, nor will it waive existing profitability and public float requirements based solely on company size. This means SpaceX will need to wait at least one full year after its IPO to qualify for inclusion in the S&P 500, and it must meet the index’s standard rules: GAAP profitability in its most recent quarter, cumulative GAAP profits over the past four quarters, and a public float of no less than 50%.