Online game developer Changyou.com Ltd. picked a great day to launch its U.S. initial public offering of stock. Amid a broad market advance Thursday, investors bid the company’s new shares as high as $23.93 from the IPO price of $16. The stock closed at $20.02 on Nasdaq, up 25 percent.

Changyou.com, which raised $60 million in the stock sale, is just the second IPO in U.S. markets in 2009. Wall Street’s meltdown in January and February caused many IPO hopefuls to shelve their plans. The only deal to be priced in the first quarter was from well-known infant-formula company Mead Johnson Nutrition, which was spun off from drug giant Bristol-Myers Squibb.

Changyou.com is a developer of online role-playing games that can be played by millions of people simultaneously.