Quantinuum (Nasdaq: QNT) shares climbed during their public trading debut on June 4. The stock opened at $68 per share. This price marks a 13.3% jump from the initial offering price. The company set the IPO price at $60 per share.
The quantum computing firm raised $1.68 billion through the offering. Quantinuum sold 28 million shares to reach that total. Strong investor demand prompted the company to upsize both the offering size and price.
The IPO establishes a market valuation of over $15 billion. Honeywell spun out the company following a 2021 merger with software firm Cambridge Quantum.