(CercleFinance.com) – GE Vernova, the energy subsidiary of GE, will enter the broad American stock market index S&P 500 from its first listing on the stock exchange, on Tuesday April 2.
S&P Dow Jones Indices announced last night that the stock would join its flagship index, often presented as the benchmark index for American managers, as soon as the market opened Tuesday morning.
The announcement is likely to boost the company’s price since its entry will force index fund managers to add it to their portfolios.
Following its split from GE, GE Vernova is due to take its first steps on the stock market as an independent company on April 2, with a first official listing on the New York Stock Exchange.
Following the operation, the shares of the industrial conglomerate GE will automatically be transformed into GE Aerospace securities, the remaining company dedicated to aerospace activities, which will also remain present on the S&P 500.
S&P also announced that Solventum, 3M’s healthcare products subsidiary, would also join the S&P 500 when it goes public on Monday, April 1.
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