W MOTORS GETS LISTED ON THE NASDAQ
W Motors the creators of the famous Lykan and Fenyr hypercars listed on the Nasdaq exchange in Dubai.
Does this mean you can buy shares of the company if you cannot afford the car? Well no. W Motors still remains a hundred percent privately held company. However, Nasdaq acts as a central securities depository. This means that they act like a safety deposit for the shares of the company. When W Motors decide to sell any of their stock, they can instruct Nasdaq to transfer it to the new owners.
What was interesting during this whole process is that W Motors commits to start a new 120,000 square feet automotive facility in Dubai.
This facility will produce the Fenyr SuperSport along with an automotive design school and state of the art automotive production facility. A first in the region. W Motors also commits to building electric and autonomous vehicles with its Chinese partners ICONIQ Motors in the above facility.