Tanfield, the AIM-listed aerial work platform maker, roared higher on Thursday afternoon after it was announced that US firm Smith Electric Vehicles Corp - in which it holds a 27.22% stake - has filed for a $125m initial public offering (IPO) on Wall Street.
In a brief statement, Tanfield flagged Smith's filing to the Securities and Exchange Commission and said that the IPO may include the partial sale by Tanfield of its current Smith shareholding.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
8 of the best houses for sale with tennis courtsThe best houses for sale with tennis courts – from a period property in Dumfries and Galloway with two islands on the River Dee, to a house in Cumbria with a 1977 En Tout Cas tennis court
-
Review: Eden Roc Cap Cana – fun, sun and golf in the CaribbeanTravel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
