SpaceX favors listing on NASDAQ, provided it is quickly included in the NASDAQ 100 Index

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ChainCatcher reports that sources say Elon Musk’s SpaceX is leaning toward going public on the Nasdaq. SpaceX hopes to be included in the Nasdaq 100 Index as soon as possible, which is seen as a necessary step for its listing on the exchange.

Earlier reports indicated that SpaceX is planning an IPO, potentially as early as June. Sources say the New York Stock Exchange is also vying for this listing, but neither exchange has been informed of a final decision. Last month, Nasdaq proposed a new rule that could accelerate the inclusion of newly listed large companies into the Nasdaq 100 Index.

Under the “Fast-Track” inclusion rule, if a newly listed company’s market cap ranks in the top 40 of the current index constituents, it can qualify for accelerated inclusion within less than a month after listing. The proposed change has not yet been finalized and may take several months to implement. Sources say SpaceX is seeking a valuation of about $1.75 trillion for this IPO, which, based on the latest stock price, would make it the sixth-largest company in the U.S.

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