Specialty lines insurer ProCentury prices IPO at $10.50

ProCentury Corporation, a provider of specialty property and casualty insurance coverage for small and mid-sized businesses, priced its 8.9 million share offering at $10.50 a share, near the low end of its proposed $10-$12 range. Insiders sold 900,000 shares in the IPO. ProCentury's primary line of business is owners, landlords and tenants insurance, which covers risks such as slip and fall accidents. Friedman Billings, AG Edwards and Raymond James managed the IPO. The stock is expected to open for trading under the symbol "PROS" on Wednesday.