Quantinuum, the quantum computing company backed by Honeywell International (HON), is considering increasing the size of its initial public offering, Bloomberg reported Friday, citing people familiar with the matter.

The company is weighing raising the number of shares offered and lifting its price range by roughly 10%, which could boost the targeted raise by hundreds of millions of dollars, the report said.

The company is on track to price after markets close Wednesday and begin trading Thursday, the report said.

Quantinuum last week disclosed plans to sell about 21 million shares at $45 to $50 each, which would value the company at $12.7 billion at the top of the range.

Quantinuum makes quantum computers capable of solving complex tasks beyond the reach of traditional processors, with applications in chemistry, machine learning, cybersecurity, finance, and drug discovery.

Quantinuum did not immediately respond to request for comment from MT Newswires.

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