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Figma’s Auction-Like IPO Set Up to Capitalize on Strong Demand
Figma Inc. is running its IPO more like an auction than a traditional listing, in an effort to wring the most out of its highly anticipated public debut.
For hot tech IPOs like Figma’s, some investors submit jumbo orders with no specific price limit, in the hope of getting a large allocation. Figma Inc. is running its IPO more like an auction than a traditional listing, in an effort to wring the most out of its highly anticipated public debut. The San Francisco-based company is asking prospective investors in its initial public offering to precisely state the number of shares they wish to buy and at what price, according to a person familiar with the matter.
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