NEW YORK- General Growth Properties Inc. will replace Molex Inc. in the benchmark S&P 500 index, S&P Dow Jones Indices LLC said Wednesday.
The switch will happen after the close of trading on Monday. That's the day the $7.2 billion sale of Molex, an information technology company, to privately held Koch Industries Inc. is expected to close.
General Growth Properties is a real estate investment trust that owns, manages and leases about 123 regional malls. The company has found its footing after filing the largest real-estate bankruptcy case in U.S. history in 2009.
Shares of the Chicago company added nearly 5 percent in after-hours trading, to $21.29, after gaining 2 cents to $20.28 during the regular session. As of Wednesday's regular-session close, the stock has gained about 2 percent in the year to date, underperforming the S&P 500, which has surged 27 percent.