July 22 -- Tsinghua Tongfang (600100) won the approval of the China Securities Regulatory Commission for a separate listing of its subsidiary, Singapore Technovator, on the Hong Kong Stock Exchange, reports Chinese Securities Journal, citing a company filing.

Technovator designs, produces, and sells automatic control products for buildings. Its products are sold in expand »Asia, North America, and Europe.

Tongfang holds a 35.52 percent stake in Technovator and is its parent.

Ping An Securities said Technovator's listing will improve its brand value and broaden its financing channels.

Ping An Securities estimates that another 14 subsidiaries of Tongfang are likely to be split from the company and be listed in the future.

Source:CapitalVue