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Bright Horizons Family Solutions (Nasdaq: BFAM) appears headed for a bright future, as its shares were up by nearly 30% following the company's IPO today.
The company, which provides child-care services, listed its stock at $22 on the New York Stock Exchange, several dollars above the expected $19-$21 range it specified in an SEC filing. The stock has since advanced to more than $28. Slightly over 10 million shares were issued in the IPO.
The sizable increase on IPO day was the second in as many weeks. Leisure company Norwegian Cruise Line Holdings jumped by a similar percentage following its debut on the Nasdaq.