IBJNews

Remy rises in first day of trading on NASDAQ exchange

Back to TopCommentsE-mailPrintBookmark and Share

Shares of Pendleton-based Remy International Inc. got off to a strong start on the NASDAQ exchange Thursday as the stock rose 4.1 percent.

Company shares began trading on the NASDAQ exchange Thursday morning at $15.85 per share and climbed to $16.50 by the end of the day. Overall, NASDAQ was down slightly (8 points) during the same period.

“We’re pleased to see positive movement,” Remy CEO John Weber told IBJ Thursday morning. “And that is indicative of our aspiration, which was that we think that if the stock gets more exposure and liquidity, then the stock will respond favorably.”

Remy shares had been listed on the thinly traded pink sheets under the ticker symbol RMYI. Shareholders were employees or minority owners.

Remy filed with the Securities and Exchange Commission on Sept. 21 to offer 40,000 company shares to employees and immediate family members.

By offering a limited number of shares, Remy boosted its shareholder count from 190 to 300, enabling the company to list on NASDAQ.

Remy's ticker on the NASDAQ is REMY.

Weber will help mark the NASDAQ listing by ringing the ceremonial opening bell Monday.

“It’s been a long and tortuous journey over the past seven years, and five since we’ve restructured,” he said. “We’ve weathered the automotive meltdown, and we’re gaining shares in the marketplace.”

Remy produces starters, alternators and hybrid motors for light- and heavy-duty vehicles. The company also remanufactures starters and alternators.

Once a division of General Motors Corp., the company was spun off in 1994 as Delco Remy before adopting its current name in 2004.

The company has 6,500 employees worldwide and 400 in Indiana.

In the third quarter ended Sept. 30, Remy earned $17.2 million on revenue of $277 million.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Of what value is selling alcoholic beverages to State Fair patrons when there are many families with children attending. Is this the message we want to give children attending and participating in the Fair, another venue with alooholic consumption onsite. Is this to promote beer and wine production in the state which are great for the breweries and wineries, but where does this end up 10-15 years from now, lots more drinkers for the alcoholic contents. If these drinks are so important, why not remove the alcohol content and the flavor and drink itself similar to soft drinks would be the novelty, not the alcoholic content and its affects on the drinker. There is no social or material benefit from drinking alcoholic beverages, mostly people want to get slightly or highly drunk.

  2. I did;nt know anyone in Indiana could count- WHY did they NOT SAY just HOW this would be enforced? Because it WON;T! NOW- with that said- BIG BROTHER is ALIVE in this Article-why take any comment if it won't appease YOU PEOPLE- that's NOT American- with EVERYTHING you indicated is NOT said-I can see WHY it say's o Comments- YOU are COMMIES- BIG BROTHER and most likely- voted for Obama!

  3. In Europe there are schools for hairdressing but you don't get a license afterwards but you are required to assist in turkey and Italy its 7 years in japan it's 10 years England 2 so these people who assist know how to do hair their not just anybody and if your an owner and you hire someone with no experience then ur an idiot I've known stylist from different countries with no license but they are professional clean and safe they have no license but they have experience a license doesn't mean anything look at all the bad hairdressers in the world that have fried peoples hair okay but they have a license doesn't make them a professional at their job I think they should get rid of it because stateboard robs stylist and owners and they fine you for the dumbest f***ing things oh ur license isn't displayed 100$ oh ur wearing open toe shoes fine, oh there's ONE HAIR IN UR BRUSH that's a fine it's like really? So I think they need to go or ease up on their regulations because their too strict

  4. Exciting times in Carmel.

  5. Twenty years ago when we moved to Indy I was a stay at home mom and knew not very many people.WIBC was my family and friends for the most part. It was informative, civil, and humerous with Dave the KING. Terri, Jeff, Stever, Big Joe, Matt, Pat and Crumie. I loved them all, and they seemed to love each other. I didn't mind Greg Garrison, but I was not a Rush fan. NOW I can't stand Chicks and all their giggly opinions. Tony Katz is to abrasive that early in the morning(or really any time). I will tune in on Saturday morning for the usual fun and priceless information from Pat and Crumie, mornings it will be 90.1

ADVERTISEMENT