(Repeats story published late Tuesday; no changes to text)
SYDNEY, Oct 13 (Reuters) - iSelect Ltd ISU.AX , the Australian operator of an insurance comparison website, said on Tuesday that it received a takeover approach from an unnamed "well-credentialed international private equity firm", sending its shares more than 8 percent higher.
The approach underscores the rush of offshore interest in Australian firms as a tumbling share market and a weaker currency send valuations lower, while low borrowing rates make it easier for purchasers to raise capital. urn:newsml:reuters.com:*:nL4N11R28E
In a statement, iSelect said it received the indicative, non-binding buyout proposal without disclosing the price or identifying the possible buyer. It said it considered it in shareholders' interests to allow the suitor a "preliminary level of due diligence information".
iSelect shares closed 8.5 percent higher at A$1.66, outperforming a 0.6 percent drop in the benchmark index and below their A$1.85 issue price when the company was listed by U.S. private equity firm Spectrum Equity in 2013. The rise gave the company a market capitalisation of A$434 million ($318 million).
The company said it hired investment banks Goldman Sachs (N:GS) and Morgan Stanley (N:MS) to advise on the takeover approach.
($1 = 1.3663 Australian dollars)