Peloton is pricing its IPO at $29 per share, according to a report.
Citing a source, Reuters wrote on Wednesday that the connected fitness firm priced its upcoming IPO at the top of its range, which was initially set at between $26 and $29 per share. Peloton plans to list shares on the Nasdaq exchange on Thursday under the ticker symbol (PTON) .
The $29 price equates to a valuation of roughly $8.3 billion. That’s more than double the valuation Peloton fetched in its most recent round of fundraising in August 2018, at which time it was valued at $4 billion.