Design software maker Figma's shares surged another 20% in morning trading on Friday, extending strong debut-day gains after a blowout U.S. initial public offering that has reignited the tech listing market.

The big opening pop is the latest indication that the tech IPO market has reopened following a multiyear lull that began in early 2022.

Figma, the design software company led by CEO and cofounder Dylan Field, saw its stock price more than triple in a stunning debut on the New York Stock Exchange on Thursday. Shares of Figma were trading as high as $107 within minutes after it began trading under the ticker FIG.

D.A. Davidson sees Canva and Databricks as large software companies that could look to take advantage of a hot IPO market and speed up plans to go public.

The company secured a valuation of $19.34 billion, just shy of the $20 billion it was set to fetch in a scrapped acquisition by Adobe in 2023.

Figma Inc. shares are expected to debut in the $105–$110 range, following the company’s successful $1.2 billion fundraising effort in one of the most closely watched US IPOs this year. That indication represents a possible uptick of as much as 233% above the $33-per-share offering price.