Mexican fintech Covalto to list on Nasdaq via SPAC

A man walks past the Nasdaq MarketSite in New York's Times Square, August 23, 2013. Stocks inched higher on Friday as trading resumed without interruption a day after the Nasdaq stock exchange suffered an unprecedented, three-hour trading halt. REUTERS/Andrew Kelly/File Photo

MEXICO CITY (Reuters) - Mexican digital and banking services platform Covalto said on Thursday it will list on the Nasdaq exchange through a special purpose acquisition company (SPAC), the first time a Mexican fintech trades publicly on a U.S. stock bourse.

The deal puts the company, formerly known as Credijusto, at an implied $547 million pro-forma enterprise value and could generate up to $177 million of capital before expenses, Covalto said.