Finnish quantum computing company IQM Quantum Computers has taken the final step toward becoming a publicly listed company by applying to list its shares on Nasdaq Helsinki. Trading is expected to begin on July 3 under the ticker IQMX.
The Helsinki debut follows IQM's merger with Nasdaq-listed special purpose acquisition company Real Asset Acquisition Corp., according to IQM’s press release. Trading in American depositary shares representing IQM stock is expected to begin on the Nasdaq Stock Market in New York on July 2, giving the company a dual listing in the US and Finland.
The listing gives Nordic investors direct exposure to one of Europe's most advanced quantum hardware companies at a time when investment in quantum technologies continues to accelerate.
Unlike a traditional IPO, the transaction does not include a new public share offering. Instead, IQM is entering the public markets by merging with an already listed SPAC, allowing it to complete its listing using capital previously raised from private investors.
As Listeds reported in February, the SPAC transaction valued IQM at around USD 1.8 billion, positioning it to become Europe's first publicly traded pure-play quantum computing company. The combined company is expected to have more than USD 450 million in cash to support technology development and international expansion.
Listeds also reported in March that IQM secured a €50 million financing package from funds managed by BlackRock, strengthening its balance sheet ahead of the public listing.
Founded in 2018, the Espoo-based company employs more than 400 people and develops superconducting quantum computers for enterprises, research institutes, high-performance computing centers, and national laboratories.
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