SAN FRANCISCO (KRON) — Figma has raised the price target of its upcoming initial public offering, according to a report in Reuters. On Monday, the San Francisco-based design software firm upped the proposed price range for the hotly anticipated IPO and is now aiming for an $18.8 billion valuation.
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Figma, which was nearly purchased by Adobe last year, was initially looking to sell around 37 million shares with a target price of between $25 and $28. With the increased valuation, the company is now looking to price shares between $30 and $32, according to multiple reports.
In this photo illustration, the Figma logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)
Figma, which is headquartered at 760 Market Street, is expected to price its IPO late Wednesday and begin trading on Thursday, MarketWatch reports, citing market sources.
Reuters calls the anticipation around the Figma IPO “the latest sign of strong investor appetite for high-growth technology stocks.”
Source:: News San Francisco – KRON 4
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