Riding a U.S. housing recovery and a booming stock market, Boise Cascade, a maker of plywood and other building materials, jumped 25 percent in its market debut Wednesday.
It’s the latest solid first-day gain for an IPO, boding well for companies that want to raise money by going public. Cruise company Norwegian Cruise Line rose 30 percent in its Jan. 18 debut, and has kept rising. Child care provider Bright Horizons gained 27 percent on Jan. 25. Homebuilder Tri Pointe added 12 percent on Jan. 31. “It’s a very healthy IPO market,” said Francis Gaskins, president of researcher IPOdesktop. “The lake is rising in terms of the stock market and that brings in IPOs, and in that context, IPOs generally do quite well.”
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