Honeywell-Backed Quantinuum Planning to File for IPO (1)

Quantinuum, the quantum computing company controlled by Honeywell International Inc., is preparing to file for an initial public offering imminently.

The company plans to confidentially submit its IPO registration with the US Securities and Exchange Commission, according to a statement Wednesday that confirmed a Bloomberg News report.

Majority owned by Honeywell, Quantinuum makes powerful quantum computers that are capable of solving complex tasks beyond the abilities of traditional processors, and which have the potential to make exponential leaps in computing.

Shares in Honeywell were trading around 0.7% higher at 10:04 a.m. in New York Wednesday, giving the ...