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