Mexican tequila maker Jose Cuervo will seek to raise more than $700 million in an initial public offering, with Singapore's Temasek Holdings taking 20 percent of the offer, an investor presentation showed on Wednesday.
Jose Cuervo will offer 476.6 million shares, priced at between 30 to 34 pesos per share, in its delayed Feb. 8 initial public offering, the presentation said.
The world's biggest tequila maker put its IPO on hold twice last year after the election of U.S. President Donald Trump sent the peso to record lows and spurred fears of an economic slowdown in Latin America's second-largest economy.
Some 15 percent of the offering will be an "overallotment option" provided to international investors based on demand for the offer, whose proceeds will go toward general corporate purposes and potential acquisitions to fuel global expansion.
Aranda, a subsidiary of Temasek, committed to subscribing to 20 percent of the offer, as long as the price per share remained within the range.