** Shares of Honeywell HON.O rise 1.5% to about $231.30 premarket

** Honeywell's Quantinuum is planning to raise up to $1.05 billion by selling about 21.05 million shares at $45 to $50 apiece in its U.S. IPO

** Quantinuum, formed in 2021 after a separation from HON and merger with Cambridge Quantum, is chaired by the industrial giant's CEO Vimal Kapur and led by Intel veteran Rajeeb Hazra

** As of last close, HON's shares up 16.8% YTD