Feb
08
Jose Cuervo Seeks More Than $700 Million in a Stock Offering
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Jose Cuervo, the world’s biggest tequila producer, was seeking up to $742 million from its initial public offering. CreditEdgard Garrido/Reuters
Snapchat’s parent might be the most prominent company to seek an initial public offering this year. But until the start-up begins trading, that honor will briefly belong to Jose Cuervo.
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.
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…
Jose Cuervo Seeks More Than $700 Million in a Stock Offering
