Wattozz Holdings Inc., a Turkish-US joint defense company, will be listed in the New York-based Nasdaq stock market, Turkish conglomerate Albayraklar Holding has announced.
This follows US-based energy firm Enerkon purchasing 20% of shares of Albayraklar Defense, a subsidiary of Albayraklar Holding, to form Wattozz Holdings Inc. Enerkon holds 51% of shares while the rest is owned by the Turkish side.
In 2018, Albayraklar Defense created a cordless electroshock weapon.
Benjamin Ballout, the CEO of Wattozz Holding Inc., said the official valuation report of the weapon amounted to over $1 billion. “Electroshock gun Wattozz is on the radar of American police agencies as well as international police agencies,” he said. He added that two plants will be established to meet demands for the weapon.
“Wattozz’s rival product Taser is also listed in the Nasdaq,” said Sertan Aycicek, the CEO of Albayraklar Holding. “There will be great competition between the two products. We are determined to make the Albayraklar Defense one of the largest technology companies in the world.”
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