Chinese computer maker Tsinghua Tongfang Co Ltd said on Monday that it planned to list its subsidiary Technovator in Hong Kong in the second half of 2011 to fund its international expansion.

The move is part of Tsinghua Tongfang's strategy to realize gains in some of its investments made years ago through initial public offerings (IPO), with some analysts expecting the company to float as many as five units in the next two years.

The planned listing would enable Technovator, which makes building automation systems, to further consolidate global resources through direct financing or mergers and acquisitions, using Hong Kong as a platform for capital raising, Tsinghua Tongfang said in a statement to the Shanghai Stock Exchange.

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The move would also boost Technovator's sales and net profit, thus benefiting Tsinghua Tongfang and other shareholders, the statement said.

To make listing easier, Technovator, which is 47.4 percent controlled by Tsinghua Tongfang, will expand its share base by splitting every share into 40, and plans to sell at least 25 percent of the company.

Technovator, which is registered in Singapore, has no plans to sell stakes to strategic investors before its planned Hong Kong listing, and will use the IPO proceeds to expand its international sales networks.

Technovator's planned listing came after Tsinghua Tongfang's two other units, BesTV New Media and Tongfang Microelectronics Co went public in the mainland stock market.