Published on November 20, 2013

Cooper-Standard sees advantages to listing stock on NYSE

NOVI, Mich.—Cooper-Standard Holdings Inc.'s began listing its common stock on the New York Stock Exchange on Oct. 17, trading under the symbol CPS.

Cooper Standard Holdings is the parent company of Cooper Standard Automotive.

The firm's stock was quoted on the Over the Counter Bulletin Board from 2010 until it began trading officially on the NYSE. Cooper Standard had been looking at several options for its common shares, according to Chief Financial Officer Allen Campbell .

"The major stock exchanges are much more noted and easier to get to and look at the stock from wherever you may be," Campbell said. "It has a lot more credibility outside of North America, and we wanted to act and behave as a major automotive supplier."

He added that the move likely will make it easier for the company to get financing.

"We've been able to get financing in the past through normal credit markets in North America," Campbell said. "This will allow us to raise equity a little easier if we need to."

To date, Campbell said the company hasn't noted a material difference in the number of shares traded.

Since the move, the company started a program to promote its name to potential long-term shareholders.

"I think having it in more people's areas that they look everyday and they see Cooper Standard as one of the shares on there creates more awareness, which in turn should help us," Campbell said.

Campbell said the firm's relationship with its customers won't change, though the listing may have some impact on building relationships with new suppliers.

"There are only so many customers throughout the world that we deal with," the executive said. "I don't think they see us any differently."

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