Figma Inc., a design software company based in San Francisco, is implementing an auction-style process for its initial public offering (IPO).

Investors will specify the number of shares they wish to purchase and the price they are willing to pay.

The company aims to raise up to US$1.03 billion through this listing.

Figma’s approach differs from traditional IPOs, which rely on market orders and settle at the best available price.

This auction-style method allows the company to gather detailed feedback from investors regarding stock valuation.

It potentially aids in demand assessment and pricing.

Recent Figma developments