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Short Take: Novo plans to raise up to $57.5 million in IPO

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."

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."