June 1 (Reuters) – Honeywell’s Quantinuum is targeting a valuation of up to $14.3 billion in its expanded U.S. market. initial public offering, underscoring the strong investor appetite around quantum computing.
The Broomfield, Colorado-based company is now seeking up to $1.46 billion by trading 26.5 million shares valued at $53 to $55 each, it said Monday.
It had previously aimed to raise up to $1.05 billion by offering around 21.1 million shares priced between $45 and $50 each.
June is set for a busy start to the IPO market as companies look to capitalize on strong market conditions ahead of SpaceX’s successful listing, with seven companies spanning the defense to energy sectors set to price their offerings this week.
JP Morgan and Morgan Stanley are active book-running managers of the Quantinuum offering.
Quantinuum is expected to list on the Nasdaq under the symbol “QNT” on Thursday.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shailesh Kuber)