Lex COMMENT

Peloton will have to spin the wheels on its pricey exercise bikes a lot harder to convince investors it is worth US$8 billion.

The US home fitness start-up hopes to sell 40m class A shares at US$26-US$29 a pop. A listing at the top of that range would raise $1.2bn, valuing Peloton at $8.1b. That is a big step up from the $4.2b valuation of Peloton's last private funding round.

The company sells fitness equipment, namely stationary bikes ($2,245) and treadmills ($4,295) equipped with internet-connected screens. Users pay $39 a month to watch its classes from the comfort

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