Leuliette: Maybe Visteon Should Move Its Listing to Hong Kong

Visteon Corp. CEO Tim Leuliette tells Bloomberg News the company could drop the New York Stock Exchange and move its listing to Hong Kong because Asian investors recognize Visteon's value.

The company is headquartered outside Detroit but operates only one plant in the U.S. Last year the $13.8 billion supplier of vehicle electronics, climate controls and interior components generated nearly half its revenue in Asia compared to 20% in the U.S. and 3% in Europe.

Leuliette grumbles that Visteon's performance isn't appreciated by U.S. investors. "We're trading at a discount because we're Detroit," he complains to Bloomberg. In Asia, he notes, Visteon is seen as part of a booming industry.

"We're a global business, and we should be valued on a global basis," he declares. "We need to start being valued on where we do business, not where we're domiciled."

Visteon's earnings in the first half of 2013 nearly tripled to $134 million from the same period last year. The company's shares have climbed 36% this year four points short of growth in Bloomberg's 24-stock auto supplier portfolio.