Insignia Financial (ASX:IFL) said CC Capital Partners raised its bid for the company to AU$4.60 cash per share, a 7% premium to a prior offer of AU$4.30, according to a Friday filing with the Australian bourse.

The revised offer also represents a 7% premium to rival bidder Bain Capital's revised non-binding indicative proposal.

Insignia Financial said it is considering the offer but noted that there is no certainty that any transaction will occur.

Insignia Financial's shares were up almost 5% in recent Friday trade and earlier hit their highest since October 2021.