** Shares of Selfwealth SWF.AX up 1.9% at A$0.27

** Stock rises as much as 3.8% earlier in the day to hit its highest level since Jan. 17, 2022

** Share trading services provider gets a higher takeover offer from Svava at A$0.28 per share

** Offer from Svava, which operates wealth management platforms in Singapore, Australia, and Hong Kong, values co at A$65 mln ($39.92 mln)

** In November, Bell Financial Group BFG.AX offered to buy co at A$0.25 cash per share, valuing Selfwealth at A$58 mln

** Selfwealth up more than 10% this year, as of last close

($1 = 1.6284 Australian dollars)

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))