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.

Figma announced Monday it is kicking off its IPO roadshow. The company plans to offer more than 36 million shares of class A stock that are expected to be priced between $25 and $28 a share. This offering includes a mix of primary and secondary shares and would allow the company to raise around $1 billion.

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