MEXICO CITY (Reuters) - Mexican tequila maker Jose Cuervo will seek to raise more than $700 million in an initial public offering, with Singapore’s Temasek Holdings Ltd taking 20 percent of the offer, an investor presentation showed on Wednesday.

A bottle of Jose Cuervo Tequila rests on a shelf in Mexico City December 11, 2012. REUTERS/Edgard Garrido

Jose Cuervo will offer 476.6 million shares, priced at between 30 to 34 pesos per share, in its delayed Feb. 8 initial public offering, the presentation said.

The world’s biggest tequila maker put its IPO on hold twice last year after the election of U.S. President Donald Trump sent the peso to record lows and spurred fears of an economic slowdown in Latin America’s second-largest economy.

Some 15 percent of the offering will be an “overallotment option” provided to international investors based on demand for the offer, whose proceeds will go toward general corporate purposes and potential acquisitions to fuel global expansion.

Aranda, a subsidiary of Temasek, committed to subscribing to 20 percent of the offer, as long as the price per share remained within the range.

Cuervo will be bolstered by Aranda’s pre-IPO commitment. Such deals are common in major Asian flotations, providing stability to companies by locking in buyers amid market uncertainty.

Jose Cuervo declined to comment. A spokeswoman for Temasek confirmed the 20 percent commitment valued at about $175 million.

Trump, who took office last week, has promised to renegotiate or scrap the North American Free Trade Agreement with Mexico and Canada, and has threatened to slap hefty taxes on companies shipping products from Mexico to U.S. markets.

MetAnalisis analyst Gerardo Copca said the timing of the move could be due to an upcoming acquisition that will require a cash boost or the more pro-dialogue approach from Trump towards Mexico than previously feared which has boosted Mexican shares.

“The governments of Mexico and the United States are going to dedicate themselves to negotiation and that creates confidence. Mexico’s stock market has shown that recently,” Copca said.

Mexico's IPC index .MXX has notched three straight days of gains, approaching levels not seen since early November.

In a prior IPO filing with regulators, Jose Cuervo warned the U.S. election could lead to renegotiation of trade deals, which could have a serious impact on its business.

Started by Jose Antonio de Cuervo in 1758 before Mexican independence from Spain, Jose Cuervo says it is North America’s oldest continuous producer of spirits.

With origins in the picturesque town of Tequila in Jalisco state, the business -- which controls 30 percent of the global tequila market -- is now controlled by the Beckmann family, which will remain the majority shareholder after the IPO.