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The UI/UX design collaboration software company Figma Inc. conducted its initial public offering (IPO) on July 30, (. According to Bloomberg, the IPO was oversubscribed by a factor of 40. Figma is expected to begin trading on Thursday, ), on the New York Stock Exchange under the ticker symbol FIG. However, CNBC commentator Jim Cramer poured cold water on the excitement, stating that although he is optimistic about Figma's core business, he is reluctant to recommend the stock immediately because its price could soon become too high.
The IPO has once again swept the market, with Figma being oversubscribed by 40 times, far exceeding Circle.
Figma's IPO plans to issue 36.9 million shares of stock, with an offering price of $30 to $32 per share, raised from $25 to $28 per share. The IPO is expected to be priced above market expectations, potentially raising up to $1.2 billion in funds.