Puerto Vallarta and Mexico News

Puerto Vallarta and Mexico News

Tequila maker Jose Cuervo files for IPO with Mexican bourse

The filing provided few details about the IPO, but media reports have suggested the company could seek to raise between $750 million and $1 billion.

The company, known officially as Becle, said the stock sale would be handled by the local units of Morgan Stanley (MS.N), JP Morgan Chase & Co (JPM.N) and Banco Santander (SAN.MC), and local brokerage GBM Grupo Bursatil Mexicano.

In the filing, the company said it had 2015 sales of nearly 20 billion pesos ($1.02 billion), up from 15.2 billion pesos in 2014. In the first six months of 2016, Cuervo said . . .

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