** Shares of design software firm Figma FIG.N falling 18.5% to $99.44 in their third day of trading on Mon following eye-popping public listing
** San Francisco-based startup on Thurs sported debut-day gain of 250% after IPO priced above expectations at $33
** Shares soared as high as $142.92 on Fri before ending session up 5.6% at $122
** Based on ~487.46 mln shares outstanding noted in the offering prospectus, stock closed Fri with market value of about $59.5 bln
** On a fully diluted basis, Figma's valuation exceeded $70 bln as of last close, far above the $20 bln it was poised to fetch in a scrapped buyout deal with industry giant Adobe ADBE.O in 2023
** Figma's outstanding performance bodes well for a U.S. IPO market that has bounced back after tariff-driven volatility stymied new listings in Apr, and with major equity indexes near record levels
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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