Nokia-backed online advertising services company Rocket Fuel has reportedly selected Credit Suisse and Citigroup to lead its planned initial public offering later this year.

It would have an initial market capitalisation of about $438m, if it floated at $14 per share.

US-based antibody research company KaloBios Pharmaceuticals has raised $70m in its IPO.

Inside Secure has about 15 backers including corporate venturing units from Samsung, Nokia, Qualcomm and Motorola.

The five million shares to be sold in its initial public offering (IPO) will be issued at $9 to $10 each compared to a $13 to $15 range previously announced, according to its regulatory filing.

The about $50m raised at the mid-price would give the company an initial market capitalisation of about $239m on the Nasdaq stock exchange, according to its latest regulatory filing.