Visteon Ponders Listings Shift to Hong Kong Exchange

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

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

"We're a global business, and we should be valued on a global basis," he adds. "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.