Figma is targeting a fully-diluted valuation of up to $16.4 billion in its initial public offering, as the cloud-based design software firm prepares for a debut on the NYSE that could inject fresh momentum into a resurgent market for tech listings.

Design software maker’s offering being followed in Silicon Valley for signs the market is ready for more tech listings

Figma sets terms in its upcoming initial public offering, and co-founder Dylan Field could net more than $60 million from selling his personal shares.