New World Resources (ASX:NWC) may attract a competing takeover bid following a sweetened offer from UK-based mining company Central Asia Metals (CAML), according to a Friday note from Euroz Hartleys.

In a same-day filing, the company said CAML raised its offer to AU$0.053 per share from AU$0.05 and agreed to provide the company with interim funding of AU$10 million via the issue of around 188.7 million shares at the same price as the improved takeover offer.

However, the company's 11.99% stakeholder Kinterra Capital on Friday applied to the Australian Government Takeover Panel, alleging that a proposed share placement by NWC could frustrate any potential competing bid for the company.

Kinterra sought interim orders to prevent the placement from proceeding before the panel hears the case and final orders from the panel to block the placement, arguing it may deter alternative proposals.

Euroz has a speculative buy rating on the company.

Shares of the company rose 8% at market close.