S&P raises market cap to $125 million for preferred stocks in indexes

By Susanna Moon

Chicago, June 29 – S&P Dow Jones Indices said it adjusted the market capitalization requirement for S&P International Preferred Stock index.

The change will be effective just before the market open on July 24, along with the July rebalancing, according to a notice.

Under the new terms, preferred stocks must have a full market capitalization of at least $125 million; however, current constituents with full market capitalization of $100 million may continue to be included.

The previous requirement was that preferred stocks needed a full market capitalization of at least $100 million and current constituents with full market capitalization of at least $75 million could continue to be included.

The change was made after consulting with members of the investment community, S&P said.

S&P it will leave unchanged at this time the volume eligibility factor for the S&P U.S. Preferred Stock Index and S&P International Preferred Stock Index.

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