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.
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