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Mexico's Jose Cuervo Prices IPO at 34 Pesos Per Share

The company, officially known as Becle, put its IPO on hold twice last year, after Trump's relationship with Mexico became strained over the issue of immigration
By The News · 09 of February 2017 09:01:49
A man receives a bottle of Jose Cuervo Tequila in Mexico City, Mexico, February 8, 2017, No available, photo: Reuters/Edgard Garrido

The initial public offering for tequila maker José Cuervo priced at the top of an expected range at 34 pesos per share, the company said on Thursday, kicking off the first Mexican initial public offering since Donald Trump won the U.S. presidency in November.

Including the over-allotment option, the initial public offering (IPO) raised 18.64 billion pesos ($912.6 million), the company said in a statement.

The share price confirmed a report by sources familiar with the matter consulted by journalists on Wednesday, who said there was strong investor demand for the offering.

The company, officially known as Becle, put its IPO on hold twice last year, after Trump’s relationship with Mexico became strained over the issue of immigration, sending the peso currency to a string of record lows.