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May 22 (Reuters) - Bodycote BOY.L said it had received a conditional all-cash proposal from Apollo APO.N, valuing the British thermal processing services group at about £1.52 billion ($2.04 billion) and sending its shares up as much as 19% on Friday.

The U.S.-based alternative asset manager's proposal of 885 pence per share in cash represents a nearly 27% premium to London-listed Bodycote's closing price on Thursday.

Bodycote is the latest UK-listed company to attract interest from overseas buyers, joining a growing list including Intertek ITRK.L and Tate & Lyle TATE.L which have received bids.

Under the offer, Bodycote shareholders will also be entitled to receive a proposed final dividend of 16.1 pence per share for the 2025 financial year, subject to shareholder approval.

Shares in Bodycote, which have risen 26% over the past year, jumped by as much as 19% to 832 pence on the news.

Bodycote said the proposal followed several earlier approaches from Apollo and that the two sides were in talks, while cautioning there was no certainty any offer would be made or on what terms.

Apollo, which has until June 19 to announce a firm intention to make an offer or walk away, did not immediately respond to a Reuters request for comment.

Bodycote provides heat treatment and other metal processing services to improve the performance and durability of metal components used in industrial sectors including aerospace, defence, automotive and energy.

($1 = 0.7450 pounds)