Figma IPO price target bumped up to $18.8 billion: reports

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.

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.

When is the Figma IPO?

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. A separate report from Bloomberg also indicates that the shares will be priced on Wednesday.

Figma will trade on the New York Stock Exchange under the ticker “FIG.”

Reuters calls the anticipation around the Figma IPO “the latest sign of strong investor appetite for high-growth technology stocks.”