Renaissance Capital, the issuer of the Renaissance IPO ETF (NYSEArca: IPO), said the fund will add newly public Mobileye (NYSE: MBLY).

Mobileye, the Israel-based developer of camera-based Advanced Driver Assistance Systems (ADAS), raised $890 million. At the $25 offer price, Mobileye commands a market cap of $5.9 billion and qualifies for inclusion in the Renaissance IPO ETF at the market’s close on August 8, 2014, according to a statement issue by Renaissance Capital.

Mobileye went public Friday, surging $12, or 48%, to $37. The company is a supply to major automotive makers such as BMW, General Motors (NYSE: GM) and Elon Musk’s Tesla (NasdaqGS: TSLA).

Last Friday, Renaissance Capital said IPO will add Synchrony Financial (NYSE: SYF), the recent consumer credit spin-off from General Electric (NYSE: GE) to IPO’s lineup at the close of U.S. markets Aug. 7. [A New Addition for the IPO ETF]

In June, Renaissance removed nine stocks from IPO and added 13 as part of its quarterly rebalance. IPO has the flexibility to add stocks on a “fast track” basis, usually at the end of a new issue’s fifth trading day. The ETF also caps an individual holdings weight at 10% at the quarterly rebalance and removes companies that have been public for two years.

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