You can do it in listing_div if you want.
the listing_img_title is the default item box template used to display each product on a listing. In each of your menus and modules, you can set that template and choose different item box layouts in the hikashop options of the menu/module.
So the listing file display the main information of listings like the title, the description of the current category if activated and then calls the layout file, listing_div or listing_table or listing_list based on what you configured in the options of the menu/module.
In listing_div, the listing of the products itself is displayed. You can see all the divs of the item boxes. And for each product box, it calls the item box layout to display the inside of the box for the current product of the listing being displayed.