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Li-Cycle Holdings Corp. Added to Russell 2000® Index
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Li-Cycle Holdings Corp. (NYSE: LICY), a leader in lithium-ion battery recycling, announced its inclusion in the Russell 2000® Index and Russell 3000® Index, effective June 27, 2022. This milestone highlights the company’s growth and stability since its public listing in August 2021. The annual Russell reconstitution ranks the 4,000 largest U.S. stocks by market capitalization, affecting approximately $12 trillion in assets. CEO Ajay Kochhar expressed optimism about expanding their reach within the investment community through their innovative Spoke & Hub network strategy.
Positive
Inclusion in the Russell 2000® and Russell 3000® Indexes enhances visibility among investors.
Reflects Li-Cycle's growth and market capitalization since public listing.
Negative
None.
TORONTO--(BUSINESS WIRE)--
Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the “Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, announced today that as part of the 2022 Russell indexes annual reconstitution, the Company has been added to the small-cap Russell 2000® Index and the broad-market Russell 3000® Index, effective after the U.S. market opens on June 27, 2022.
“As we continue to execute on our Spoke & Hub network strategy, which provides localized sustainable solutions for the battery materials supply chain to support the growth for electric vehicles, we look forward to expanding our reach within the investment community,” said Ajay Kochhar, Li-Cycle co-founder and Chief Executive Officer. “We are excited to have been selected for inclusion in the Russell 2000® Index, another meaningful market milestone for Li-Cycle since becoming publicly listed in August 2021.”
The annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 6, 2022 ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or the small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider. Additional information on the Russell 2000® Index, Russell 3000® Index and the Russell indexes reconstitution can be found on the “Russell Reconstitution” section of the FTSE Russell website.
About Li-Cycle Holdings Corp. Li-Cycle (NYSE: LICY) is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com.
