IPOs whose market capitalizations rank within the Nasdaq 100’s top members will normally be eligible to be included after 15 days of trading, with the minimum 10% float requirement for eligibility removed. The revisions will take effect on May 1, and were made after an industry consultation, with Nasdaq acknowledging pushback from some participants but stressing the need for the index to represent the market in a “more timely” manner.
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Nasdaq speeds up index entry for SpaceX, large IPOs with new rule
“Industry professionals, including asset managers and institutional passive portfolio managers, were mostly supportive of the Fast Entry proposal and proposed timing,” Nasdaq said in the statement.
