April 22 (Reuters) – Industrial giant Honeywell said on Wednesday its quantum computing company, Quantinuum, has confidentially filed paperwork for a U.S. initial public offering.
The firm, majority owned by Honeywell, had submitted papers with the U.S. Securities and Exchange Commission in February.
Honeywell did not disclose the financial details of the potential offering, but Quantinuum was valued at $10 billion in a fundraising round in September.
The filing comes as the market for new listings regains momentum after a brief lull in March, when volatility tied to the U.S.-Israeli war with Iran and a broader software selloff forced many issuers to the sidelines.
The move also coincides with a race to accelerate development of quantum computing technology, which promises to solve complex problems exponentially faster than classical supercomputers.
The full-stack quantum computing provider’s technologies are used by Honeywell, Airbus, BMW Group, HSBC and JPMorgan Chase.
Quantinuum, formed in 2021 after a separation from Honeywell and merger with Cambridge Quantum, is chaired by the industrial giant’s CEO, Vimal Kapur, and led by Intel veteran Rajeeb Hazra.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Shilpi Majumdar)
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