AUTOSHOW-UPDATE 1-Changan parent plans HK listing in summer-exec

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By Fang Yan

BEIJING, April 20 (Reuters) - China South Industries Motor Co Ltd plans to list in Hong Kong in the second half of this year, raising as much as HK$4 billion ($510 million), a senior executive said on Sunday.

China South, which lumps together major vehicle assets of its state parent, including Changan Automobile Co 000625.SZ, has already filed an IPO application with mainland China securities regulator, its vice president said.

"Our plan is to float in Hong Kong in July or August and raise between HK$3 to HK$4 billion," Deng Zhiyou told Reuters on the sidelines of the Beijing Auto Show.

The firm will file an application to the Hong Kong stock exchange once it receives approval from Beijing, Deng added.

China South, incorporated at the end of 2006, is joining its domestic peers to tap the capital market largely to help bankroll costly projects to develop their own-brand vehicles.

After making Buicks and Santanas with General Motors (GM.N: Quote, Profile, Research) and Volkswagen (VOWG.DE: Quote, Profile, Research) for years, Chinese automakers are working harder than ever to develop national brands, hoping to compete head-on with established foreign brands globally.