The San Francisco, California-based firm priced its shares at $33 each, above its targeted range of $30 to $32 apiece. Figma is going public after its $20 billion acquisition by Adobe was called off in December 2023 due to antitrust concerns.

Design software maker Figma has raised more than $1.2bn at an almost $20bn valuation in its initial public offering, the latest positive signal for venture capital-backed start-ups that have waited for years to go public.