Finnish quantum computing company IQM has started trading on the Nasdaq Global Select Market, becoming the first European quantum computing company to list on a major US stock exchange as it seeks funding to expand its technology and global operations.
Trading in IQM's American Depositary Shares began on Thursday under the ticker symbol IQMX following the completion of the company's merger with the special purpose acquisition company Real Asset Acquisition Corp. (RAAQ).
The listing values IQM at about $1.9 billion, or roughly €1.7 billion.
IQM will also begin trading on the Helsinki Stock Exchange on Friday, making it only the second Finnish company after Nokia to hold a dual listing in Finland and the United States.
The shares opened at $12.76 before falling by about 7.5% in early trading. They later recovered and moved into positive territory as trading continued, according to market data.
