Boise Cascade continues its hot run on Wall Street
After a successful initial public offering Wednesday, shares of the newly public Boise Cascade continued to perform well on Thursday.
The Boise, Idaho-based wood products company also replaced Jewett-Cameron as one of the 30 companies tracked on the HCN Stock Watch.
Sold on the New York Stock Exchange with the ticker symbol of BCC, Boise Cascade's share price is set at $21. The price rose to a Wednesday opening of $25.44, and thee shares have risen above $27 in trading late on Thursday.
Based in Boise, Idaho, Boise Cascade describes itself as “a large vertically integrated wood products manufacturer and building materials distributor with widespread operations in the United States and Canada.”
Boise Cascade intends to use $25.0 million of the net proceeds to repay borrowings under its revolving credit facility and the remainder for general corporate purposes.