Internet services firm Novo said it plans to raise up to $57.5 million in a
proposed initial public offering, according to a recent filing with the SEC.
The San Francisco-based firm provides Web development, strategy, design and
marketing to start-ups and Global 1000 clients, including 3Com, Continental
Airlines, E*Trade and others. The offering will be managed by Salomon Smith
Barney, Bear Stearns, SG Cowen and Friedman, Billings, Ramsey & Co. Novo,
which has not yet priced its shares, plans to trade on the Nasdaq under the
ticker symbol "NOVO."