Figma (NASDAQ: FIG) is set to go public on July 30. For the design software star, the public offering represents a long and winding path since Adobe 's ( ADBE -0.39%) $20 billion acquisition of the company was blocked in 2023 over regulatory pushback that the deal would suppress competition in the design software industry.

Figma Inc.’s US initial public offering is approaching 40 times oversubscribed, according to people familiar with the matter, as the design and collaboration software company heads for what could be the year’s most in-demand listing.

Figma has raised the price target of its upcoming initial public offering, according to a report in Reuters. On Monday, the San Francisco-based design software firm upped the proposed price range for the hotly anticipated IPO and is now aiming for an $18.