** Shares of Pointsbet Holdings PBH.AX rise as much as 11.1% to A$1.205 to hit their highest levels since January 27, 2022

** The bookmaker set for best day since February 26, if gains hold

** On Tuesday, co received improved takeover offer from MIXI, Inc at A$1.20 per share from A$1.06 per share

** Improved offer price represents a 44.6% premium to the closing price on February 25 before the announcement of the scheme was made

** Improved offer price implies an enterprise value of A$402 million ($260.34 million)

** About 2.2 mln shares change hand, in their busiest day since April 28

** Stock up 19% this year, including the day's move

($1 = 1.5442 Australian dollars)

(Reporting by John Biju in Bengaluru)

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