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Figma raises IPO range to $30-$32 per share

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Elena Nadolinski, Founder and CEO at Iron Fish, and Dylan Field, CEO and Co-founder of Figma, attend the annual Allen and Co. Sun Valley Media Conference in Sun Valley, Idaho, U.S., July 7, 2022.

Brendan Mcdermid | Reuters

Design software maker Figma on Monday increased the expected price range for shares in its initial public offering this week.

The company now expects shares to go for $30 to 32 each, up from the range of $25 to $28 that it disclosed on July 21.

The new range, announced in a regulatory filing, suggests Figma would be worth $17.6 billion to $18.8 billion on a fully diluted basis.

That would still be below the $20 billion total that Adobe had offered when it announced plans to acquire Figma in 2022. The deal fell apart after regulators pushed back on competitive grounds.

Figma is among the most valuable privately held technology companies.

Financial technology companies Chime and Circle went public in June, and CoreWeave shares debuted in March. Circle and CoreWeave shares have since more than doubled in price.

WATCH: Figma files to go public under ticker ‘FIG’