In a regulatory filing with the Mexican Stock Exchange, Cuervo’s parent company, Becle,<br />said it intends to sell Cuervo’s shares between 30 pesos and 34 pesos each.<br />The Beckmanns are expected to retain control of the company even after the initial offering, though the Singaporean<br />sovereign wealth fund Temasek is also expected to become a big investor through the stock sale.<br />The world’s biggest tequila maker announced the price range for its stock offering<br />on Wednesday, seeking up to 15.3 billion pesos, or $742 million, in proceeds.<br />By seeking to go public, Becle is finally seeking a stock listing for its two-century-old business, one<br />that stretches back to José Antonio de Cuervo y Valdés receiving land in what is now Mexico from the king of Spain.<br />Factor in the “greenshoe,” Wall Street parlance for additional shares set aside to cover exceptional investor demand,<br />and Cuervo is hoping to raise 17.5 billion pesos from its initial offering.<br />Since then, the company has had to weather volatility in the Mexican stock market, including turmoil<br />that arose after Donald J. Trump’s election and subsequent questions about American-Mexican trade relations.
