NEW YORK -- Shares of Boise Cascade are up nearly 27 percent in their first day of trading.
Such trading for the maker of wood products and building materials comes as the housing market continues to show signs of a recovery. Improvements in the job market and overall economy and low interest rates appear to be boosting demand for homes.
Boise Cascade Co.'s stock gained $5.65, or 26.9 percent, to $26.65 Wednesday morning while the broader markets edged lower.
The Boise, Idaho company raised $247.1 million in its initial public offering.
Boise Cascade said late Tuesday it sold 11.8 million shares for $21 each, above its expected range of $16 to $18.
The stock is listed under the "BCC" symbol on the New York Stock Exchange.