CIBC Oppenheimer Corp., the U.S. securities subsidiary of Canadian Imperial Bank of Commerce, has been tapped to lead an initial public offering for NetGrocer Inc., an on-line grocery store.

Volpe Brown Whelan & Co. will co-manage the deal.

NetGrocer, based in New York, filed with the Securities and Exchange Commission last month for the IPO to raise about $38 million. The proceeds would be used for marketing and general corporate purposes.

Internet issues remain a consistently strong segment in this year's otherwise sluggish IPO market.

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