Peloton IPO: At-home exercise firm prices float at $29 per share
![](https://www.cityam.com/wp-content/uploads/2019/09/Peloton-Bike-Lifestyle-04.jpg?w=742)
Exercise bike firm Peloton has priced its initial public offering (IPO) at $29 per share to value the company at $8bn (£6.47bn).
Peloton priced its float at the top of its $26 to $29 range last night as it looks to raise $1.16bn.
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The fitness firm will sell 40m Class A shares when it begins trading on the Nasdaq this afternoon under the ticker PTON.
It filed to go public back in August, when it revealed it had made $915m in revenue for the 12 months to the end of June.
That figure was a 110 per cent rise on the previous year for the company, which offers at-home fitness equipment that carry screens for customers to join live and recorded fitness classes from their living rooms.
![Peloton IPO: A man follows a live class on his Peloton bike screen](https://www.cityam.com/wp-content/uploads/2019/09/Peloton-Bike-Lifestyle-01-960x585.jpg)
Peloton now has 1.4m members, while it enjoys strong margins from selling its $2,000 bikes and $4,000 treadmill.
However, the exercise company saw losses widen to $245.7m in its last financial year, around five times bigger than its $48m loss in 2018.
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Sales and marketing costs wiped out its profit but they are unlikely to go soon, with Peloton looking to expand abroad.
Peloton is also fighting legal battles like a $300m lawsuit on behalf of 10 music labels and artistic groups, which allege Peloton has used more than 2,000 songs without a licence.
Main image credit: Peloton