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Investing.com - Quantinuum Inc., the Honeywell International Inc.-backed quantum computing company, is considering increasing the size of its initial public offering, according to reporting from Bloomberg, citing a person familiar with the matter.
The company is weighing raising the number of shares offered as well as increasing its share price range by about 10%, the person said, asking not to be identified because the matter is private. That could boost the targeted raise by hundreds of millions of dollars, the person said.
Quantinuum last week disclosed plans to market about 21 million shares for $45 to $50 each. At the top of that range, the company would have a market value of $12.7 billion based on the outstanding shares listed in its filing.
Earlier Friday, Bloomberg News reported that Quantinuum IPO drew orders for a double-digit multiple of the number of shares available.
The company is on track to price after the market closes in New York on Wednesday and start trading the next day, people familiar with the matter have said.
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