Ronan Reid

Now there's fast-tracking into the index.

And a market has radically changed from times when you would invest to get a spread of securities, dividend income, and other things, to essentially five stocks.

I mean, it'll be lower capitalized than the other five stocks straight away, like everything from NVIDIA

which I think is about $6 billion, all the way down to Amazon at number five.

I think it's Amazon at number five, or Alphabet, which are about $2 billion.

So people are estimating the market cap of it will be about $2 trillion.

Very simple.

What's the overall value of the company?

And then how many shares are in existence that you can trade?

So it's free float will be small, the amount it can trade.

That can be tradable or the amount of shares released.

And yet its market cap is what contributes to the index.

It gets adjusted, but it contributes to the index.

So if it ranks in the top 10 stocks, passive funds will have to buy that amount of the index and there's less supply.

So it'll drive up the value.

There are no sellers.

The only sellers, I suspect, into the IPO will be those that invested in the last round, all the private equity players and all the others, all the other insiders who will sell to the public and passive funds will chase it up.

It's reckoned that they'll need to buy about 20 billion of stock.

Oh, yeah, absolutely.

I mean, they are.