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Fitness startup Peloton Interactive targets up to $1.33 bln in IPO

Peloton Interactive Inc, the fitness startup known for on-demand workout programs on its exercise bikes, is planning to raise up to $1.33 billion in an initial public offering.

Sept 10 (Reuters) - Peloton Interactive Inc, the fitness startup known for on-demand workout programs on its exercise bikes, is planning to raise up to $1.33 billion in an initial public offering.

The company expects to offer 46 million shares, including the underwriters' option, priced between $26 and $29 per share, its latest filing with the U.S. Securities and Exchange showed. [https://bit.ly/2ktcmoR]

The higher end of the indicative price range gives the company a market value of $8.23 billion, based on 283.7 million outstanding shares, including the underwriters' option.

(Reporting by Bharath Manjesh in Bengaluru; Editing by Shailesh Kuber)

((Bharath.ManjeshR@thomsonreuters.com; outside U.S. +91 80 6749 8400;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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