The initial public offering for tequila maker Jose Cuervo is at least four times oversubscribed, four sources said on Wednesday, pointing to a high-end pricing for the first Mexican IPO since Donald Trump won the U.S. presidency.
Two of the sources, who spoke on condition of anonymity, said pricing of the 476.6 million share offer was expected to be at the upper end of the 30 to 34 peso guidance range.
A 34 peso pricing, combined with a 15 percent "overallotment option" could allow the oldest continuously-producing tequila company to rake in upwards of $900 million.
The official pricing is due to be released later on Wednesday. Jose Cuervo, which is also the world's biggest tequila maker, could not immediately be reached for comment.
The company, officially known as Becle, put its IPO on hold twice last year, as Trump's march to the White House gathered strength, sending the peso currency to a series of record lows.