Mexico-based tequila producer Jose Cuervo has raised more than $900m through initial public offering (IPO).

The shares in Cuervo were priced at 34 pesos, which is more than the estimated range.

The IPO for Cuervo’s parent company Becle raised a total amount of MXN18.64bn ($912.6m) including the over allotment option, reported Reuters.

Investors were reported to have been interested in the IPO, despite the announcement by the US President Donald Trump of a heavy tax imposition on Mexican imports.

"The consumer sector is a good proxy for our wider global investment themes."

The IPO was postponed twice due to the dip in the peso value.

Founded by Jose Antonio de Cuervo in 1758, Jose Cuervo has around 30% share in the global tequila market.

Singapore-based state investor Temasek division Aranda is planning to invest in a 20% stake in the IPO listing.

Temasek Mexico and Andean region managing director Lorenzo Gonzalez was quoted by the news agency as saying: "The consumer sector, including food and beverages, is also a good proxy for our wider global investment themes, which include transforming economies and the growth of middle income populations."