Shares of software company Figma soared in their stock-market debut Thursday, rising 250% in one of the splashiest initial public offerings in years.The stock opened at $85 a share, more than twice its IPO price and the best first-day showing in recent memory for a major offering.

Design-software company Figma’s stock rocketed 250% above its initial public offering price, and was headed for the largest ever first-day gain, after an IPO had raised more than $500 million.

Figma Inc. raised $1.2 billion with an initial public offering on Thursday, with shares trading for $33, which increased its market share to $19.3 billion.