Star Group shares rise 1.66% intraday after announcing a 50% asset sale to HK investors.

Star Group, L.P. rose 1.66% intraday, with the company announcing a deal to sell its Brisbane and Gold Coast stakes in a joint venture. The company also revealed that it had revived a 50% asset sale to Hong Kong investors, which sent its shares soaring. The company had previously cautioned about the risk of collapse due to heightened regulation, lack of tourists, and elevated living costs. The cash from the sale will help Star service its substantial debt.