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The phrase "half of its" is correct and usable in written English.
It can be used when referring to a portion or fraction of something belonging to or associated with a subject.
Example: "The company reported that half of its profits were reinvested into research and development."
Alternatives: "50% of its" or "a portion of its".
Exact(58)
It made half of its 3-point attempts.
It sells half of its products to Toyota.
Now it is only about half of its supply.
It currently imports over half of its daily consumption.
It, too, has lost about half of its value.
That is roughly half of its capacity.
Reduce by half of its volume.
Half of its budget is unspent.
Half of its population was under 20.
Moscow gave Mr Putin less than half of its votes.
About half of its 400 employees sell local ads.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com