The S&P 500 Index confirmed on Tuesday that it will exclude companies issuing multiple types of shares. The decision, effective from Monday, will bar Snap from inclusion due to the company’s decision to offer non-voting shares. The move will not affect existing components of the index with such share arrangements, including Alphabet and Berkshire Hathaway. The changes will also apply to the S&P MidCap 400 and S&P SmallCap 600 indexes.
The S&P 500 Index confirmed on Monday that it will exclude companies issuing multiple types of shares. The decision, effective from Tuesday, will bar Snap from inclusion due to the company’s decision to offer non-voting shares. The move will not affect existing components of the index with such share arrangements, including Alphabet and Berkshire Hathaway. The changes will also apply to the S&P MidCap 400 and S&P SmallCap 600 indexes.