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Index IPO additions

Initial public offerings (IPOs) are added to the Russell Indexes on a quarterly basis. Adding IPOs, in addition to the annual Reconstitution of our indexes, leads to an enhanced market representation without significant turnover.

Russell US Indexes IPO calendar

Quarterly additions


2018 Third-quarter additions

2018 Fourth-quarter additions

2019 First-quarter additions

Initial offering period

IPOs which initially trade between rank day +1 of the previous cycle and rank day of the current cycle.

IPOs which initially price/trade between May 12 and Aug 17.

IPOs which initially price/trade between Aug 18 and Nov 16.

IPOs which initially price/trade between  Nov 17 and Feb 08.

Rank date*

Five weeks prior to implementation.




Announce date*

Three weeks prior to implementation.




Effective date**

Third Friday of the month.





* If a date falls on a holiday the previous business day is used.

** After the close on the third Friday of the month. If a date falls on a holiday the previous business day is used.

Note: Once IPO additions have been announced, an IPO may be added to the index prior to the previously announced schedule, if a corporate action has deemed this to be appropriate and notice can be provided (e.g. an index member automatically receives shares via a stock distribution into a projected IPO add).In order to be added during a quarter outside of reconstitution, an IPO must meet all Russell US Index eligibility requirements. Additionally, the IPO must meet the following criteria on the rank day for the quarterly additions: (1) it is priced and traded; and (2) it ranks larger in total market capitalization than the market-adjusted smallest company in the Russell 3000E Index as of the latest June reconstitution.