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Business

Trump hangover delays Jose Cuervo IPO

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Business

Trump hangover delays Jose Cuervo IPO

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COMING UP:Trump hangover delays Jose Cuervo IPO

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00:00:01
>> The Donald Trump presidency has hit the Mexican stock market, battered the peso. And now in a sobering shot of reality, squashed the IPO of Jose Cuervo, the world's biggest tequila maker. Reuters reporter, Lauren Hirsch has the story.>> It's very hard to schedule an IPO or do a public offering when there's volatility in the market.
00:00:21
Because what you do is you look to currently publicly listed companies and you say, I'm familiar with that company, and that is therefore how much it is worth. If the public company that you're pointing to has lost a lot of value, you're not gonna wanna go public because you're not going to be using that as a benchmark.
00:00:38
>> During his campaign, Trump called for building a wall on the US-Mexican border and has promised to renegotiate or scrap the North American free trade agreement. So it's no surprise the Mexico IPC stock index has dropped more than 7% since the election.>> So our sources have told us they're going to be reassessing the situation in mid January.
00:00:58
A lot of the rhetoric that President-Elect Trump has used during the campaign, he has since kind of walked back. So, Jose Cuervo's advisers wanna get a better sense as to what is Trump actually going to do.>> Jose Cuervo in its IPO filing in September warned that the US election could lead to renegotiation of trade deals which could have a serious impact on its business.
00:01:23
Sources say the tequila maker was looking to raise as much as a billion US dollars on the Mexican stock market.