Finland's IQM to become one of Europe's first listed quantum companies at $1.8 billion valuation

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Finland-based quantum computing startup IQM announced plans Monday to become one of Europe’s first publicly listed companies in the sector.

IQM will merge with special purpose acquisition company (SPAC), Real Asset Acquisition Corp.

(RAAQ) as part of the listing in New York. The deal, which gives IQM an initial equity valuation of $1.8 billion, is pending shareholders’ approval and other regulatory conditions being met, the firm said in a Monday statement.

The company is eyeing the transaction being completed around June this year, with the listing to happen shortly after that. It’s also considering a dual listing on the Helsinki stock exchange.