Mandarin Oriental shares up another 9%

SINGAPORE (Sept 18): Shares in Mandarin Oriental continued its upwards trajectory for the second straight trading session, rising nearly 9% or 23 cents to $2.79 as at 12.01pm with 2.7 million shares were traded.

On Friday, Mandarin Oriental shares had surged 21% on Friday -- topping 2007's record high -- before the company confirmed it had received bids for Excelsior hotel in Causeway Bay.

In a Friday night regulatory filing, the company announced it was evaluating proposals for the 4-star hotel which has received government permission to be redeveloped.

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