Match Group is set to join the S&P 500 before the end of the month, marking it as one of the biggest companies listed on public stock exchanges in the US.
The changes will be made before the markets open on Monday, 20th September. Match Group is one of three new businesses joining the prestigious stock market index, alongside human resources software provider ‘Ceridian’ and insurance broker ‘Brown & Brown’.
Pharmaceutical company ‘Perrigo’, insurance company ‘Unum Group’, and oil drilling equipment provider ‘NOV Inc.’ are the three entities that are being replaced.
The S&P 500 is perhaps the most popular stock market index with a current market value of over $38 trillion.
Match Group’s share prices have jumped by approximately 10% in after hours trading following the market closure on Friday. The US stock markets are currently shut until Tuesday morning, due to the Labor Day federal holiday.
The online dating company currently has a market cap of $41 billion, thanks to a 13% rise over the past couple of weeks.
ParshipMeet Group is planning to go public at some point next year to provide some extra online dating competition. The German owner of brands like eharmony and MeetMe has reportedly started reaching out to investment banks for their help during the IPO process.
It could potentially go public on the Frankfurt Stock Exchange, with a valuation in the region of $4 billion.
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