Jose Cuervo Tequila manufacturer decided to conduct an IPO

The world's largest Jose Cuervo manufacturer during an IPO placed its shares along the upper border of the price range, offering their investors 34 pesos. It is reported by Reuters with reference to unnamed sources.

As a result, when entering the exchange, the company was able to attract at least 16.2 billion pesos ($ 791 million). At the same time, according to the agency, the demand for Jose Cuervo shares exceeded the proposal by more than eight times.

According to Bloomberg, the IPO of the manufacturer of tequila has become the largest in Mexico since 2013. The company itself refused to comment.

Prior to this, Jose Cuervo postponed the IPO twice, since the results of the US presidential election, at which Donald Trump won, lowered the Mexican peso to record minimums in 20 years. In addition, Trump threatened to cover the goods produced in Mexico and supplied to the American market with a significant duties.

Thanks to sales in the US and Canada markets, Jose Cuervo in 2015 generated 64% of its revenue, which reached about $ 1.2 billion.