According to individuals familiar with the matter, the initial public offering for Quantinuum Inc. has garnered oversubscription exceeding twenty times the available shares, with the price expected to be set above the already elevated range later on Wednesday.

Sources indicate that the quantum computing firm, in which Honeywell International Inc. holds a stake, has attracted significant subscription interest from long-only investors for its IPO.

The allocation of shares is said to be weighted towards long-only investors and those who have engaged with the company's management, the sources noted.

On Monday, Quantinuum increased the size of its offering to 26.5 million shares, within a price band of $53 to $55 per share.

The stock is anticipated to commence trading on the New York Stock Exchange this Thursday under the ticker symbol QNT.

Institutions including JPMorgan Chase & Co., Morgan Stanley, Jefferies Financial Group Inc., and Evercore Inc. are involved in the share sale.