AIQ Limited's board has asked for trading to be suspended following an unwarranted rise in its share price.

The company said that further to its announcement yesterday morning, the board noted that the share price continued to rise.

AIQ said the board believed that such a rise was unwarranted in light of the fact that the company has been trading for only three days and there had been no material change in its business since the publication of its prospectus on 4 Jan.

It said the board was taking the prudent step of asking for its shares to be suspended from trading in order for an orderly market to be facilitated.