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IQM Quantum Computers shares climbed 21.3% to €18.20 in early trading on Nasdaq Helsinki today, extending momentum after the Finnish quantum computing company began trading in the US a day earlier.
The company's American depositary shares closed their first session on Nasdaq at USD 13.03, up 2.1% from the previous close, before easing to USD 12.90 in after-hours trading. The US listing became effective on July 2 under the ticker IQMX, marking the company's arrival on public markets through a dual listing in Helsinki and New York.
The strong opening in Helsinki suggests investors are placing a premium on direct access to Europe's first publicly traded pure-play quantum computing company. Trading volume reached roughly €6.3 million during the morning session, with the stock touching an intraday high of €19.00.
As Listeds reported earlier this week, IQM completed its public market debut through its merger with Nasdaq-listed special purpose acquisition company Real Asset Acquisition Corp. Rather than raising fresh capital through a traditional IPO, the transaction brought the Espoo-based company to market using capital already secured through the SPAC structure.
Earlier Listeds reporting also noted that the transaction valued IQM at around USD 1.8 billion and left the combined company with more than USD 450 million in cash to fund technology development and international expansion. In March, the company further strengthened its balance sheet with a €50 million financing package from funds managed by BlackRock.
The market reaction gives IQM a strong start as one of Europe's few listed quantum computing specialists, although attention will now turn to whether the company can convert investor enthusiasm into commercial growth.
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