Orion180 Insurance said to price IPO below marketed range

Investing.com -- Orion180 Insurance Group Inc. plans to price its initial public offering at $12 per share, below its previously marketed range of $15 to $17, according to a Bloomberg report Tuesday.

The specialty home insurer is offering 20 million shares in the IPO. Allocations are expected to be heavily concentrated with large mutual funds, the report said.

The offering is expected to price after the market closes in New York on Thursday. Shares are set to begin trading on the Nasdaq Global Select Market on Friday under the symbol OIG.

Royal Bank of Canada, UBS Group AG and Raymond James Financial Inc. are among the banks working on the offering.

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