July 31 (UPI) -- Collaborative design firm Figma Inc. raised $1.2 billion with an initial public offering on Thursday, with shares trading for $33, which increased its market share to $19.3 billion.
The IPO is one of the most closely watched by Wall Street analysts, who say it is a predictor of how much value investors place on tech firms.
The shares are traded on the New York Stock Exchange under the FIG symbol.
The IPO followed a failed Adobe and Figma merger effort that ended when U.S. antitrust regulators denied the merger at the end of 2023.
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