Mexico-based tequila firm Jose Cuervo plans to raise $1bn through an initial public offering (IPO) in February.

Targeted for 8 February, the firm intends to price each share between $1.40 and $1.59, reported Investorplace.com.

President Trump's election caused fears that the economy of Latin American nations would slow down, which led to dip in the peso value. Jose Cuervo is likely to benefit from the 15% drop in the value of the Mexican currency due to increased exports to the US.

"President Trump's election caused fears that the economy of Latin American nations would slow down, which led to dip in the peso value."

With the Mexican stock exchange making a gain of 2.7%, the plans for the IPO has gained momentum, reported Thespiritsbusiness.com.

Jose Cuervo plans to use the proceedings from the IPO to improve growth and increase its product portfolio. After the IPO, the Beckmann family will continue to hold a majority share in the firm.

Jose Cuervo was founded in 1700s by Jose Antonio de Cuervo.

Image: Workers at José Cuervo Distillery in Tequila, Mexico. Photo: courtesy of Mdd4696/Wikipedia.