Quantinuum, Honeywell’s quantum computing company based in Broomfield, Colorado, is targeting a valuation of up to US$14.3 billion after increasing the size and price range of its US initial public offering.

The deal could raise as much as US$1.46 billion.

The company now plans to sell 26.5 million shares at US$53 to US$55 each, up from about 21.1 million shares at US$45 to US$50.

The move comes amid broader investor enthusiasm for quantum computing.

Listed quantum computing stocks have moved higher in recent trading, though demand for Quantinuum shares also drove the IPO upsize.

Quantinuum was formed in 2021 by combining Honeywell’s quantum computing division and Cambridge Quantum.

The company says it is a vertically integrated, full-stack quantum computing company and has active engagements in pharmaceuticals, materials science, financial services, government, and industrial markets.

Honeywell will own about 48.1% of the company’s combined voting power after the offering, and Quantinuum is expected to list on Nasdaq under the ticker QNT on Thursday.

🔗 Source: Reuters