Feb 6 Shares of plywood and lumber maker Boise
Cascade Co rose as much as 27 percent to $26.75 on
Wednesday in their New York Stock Exchange debut.
Boise Cascade, whose products are used in new residential
construction and remodeling projects, capitalized on investor
enthusiasm for a recovery in the U.S. housing market.
The Boise, Idaho-based company backed by private equity firm
Madison Dearborn priced 11.8 million shares at $21, raising
$247.8 million. It had raised its price range to $18 to $20 from
an earlier range of $16 to $18.
Boise Cascade is one of several recent housing-related IPOs.
Tri Point Homes LLC, the first U.S. home builder to go
public in almost a decade, raised $233 million in its January
listing. Taylor Morrison Home Corp, which builds single family
homes, also filed in January to raise $250 million in a public
The U.S. housing market has rebounded as low interest rates
and rising rents have pushed many consumers to buy homes.
BofA Merrill Lynch and Goldman Sachs are lead underwriters
on the IPO.