Investors show thirst for IPO of tequila maker Jose Cuervo

Mexico City

THE initial public offering for tequila maker Jose Cuervo priced at the top of the expected range at 34 pesos per share, two people said on Wednesday, marking the first Mexican IPO since Donald Trump won the US presidency.

The pricing of the 476.6 million share offer means the company raised at least 16.2 billion pesos (S$1.1 billion). Combined with a 15 per cent "over-allotment option", that could allow the company to draw upwards of US$900 million.