London’s financial market faces a new challenge as Quantum Exponential Group plans to delist.
- The resolution to cancel shares on AQSE has been approved, with trading halting on October 30.
- Quantum Exponential’s public status hindered investment despite apparent interest.
- Share values have plummeted over 90% since their peak after the IPO.
- The company continues to support early-stage quantum tech firms privately.
London’s financial sector is experiencing ongoing turbulence with Quantum Exponential Group’s decision to cease trading on the AQSE Growth Market by October 30. This marks another setback for the city’s investment landscape.
Quantum Exponential, a significant player in the quantum technology sector, confirmed that a general meeting approved the delisting resolution. This decision stems from multiple factors, including challenges faced in securing new investments despite notable interest from potential investors.
Initially valued at nearly £20 million during its IPO, the company’s share value has since fallen drastically by over 90%. The original peak of 6.875p in November 2021 highlights the severe devaluation it has suffered.
The company attributes part of its financial struggles to a broader downturn affecting micro-cap companies, exacerbated by geopolitical concerns impacting liquidity and valuation. These factors have collectively prompted their transition to private operations.
Despite these challenges, Quantum Exponential remains committed to propelling quantum computing innovation. It has actively backed startups like AegiQ, QLM Technology, and Universal Quantum. Furthermore, it has participated in funding rounds for companies such as Oxford Quantum Circuits, showcasing its continued influence in the tech development arena.
Quantum Exponential’s strategic retreat from public trading underscores the current volatility and adaptation in the quantum investment landscape.
