Helio Energy (HIO) to List 42 Million Shares on HoSE From November 16

Overview

HoSE has approved the listing of 42 million Helio Energy (HIO) shares, with trading scheduled to start on November 16, 2026, following completion of delisting procedures on UPCoM. The move shifts a solar-power developer with VND420bn in charter capital from Vietnam’s unlisted market to the main board, giving the ticker a broader institutional and index-eligible investor base.

Key Facts

• HoSE approved the HIO listing on October 19, 2026, covering 42,000,000 shares.
• Total listing value at par is VND420bn, with a par value of VND10,000 per share.
• First trading day on HoSE is set for November 16, 2026.
• The first-day reference price is the average reference price of at least 30 UPCoM sessions before HIO’s UPCoM delisting.
• HIO last closed on UPCoM at VND10,300 on October 24, 2026.
• Helio Energy was founded in 2020 as Alpha Solar 1 Co., Ltd. with initial charter capital of VND10bn, later raised to VND420bn.
• H1 2026 revenue reached VND114.3bn, up 91% year on year.

What Happened

In a notice carried by Vietnamese financial media, the Ho Chi Minh City Stock Exchange (HoSE) confirmed it had approved the listing of 42 million shares of Helio Energy, ticker HIO, on October 19, 2026. The company is completing procedures to cancel its registration for trading on UPCoM, the unlisted public company market, before the shares begin trading on HoSE on November 16, 2026. The listing value at par is VND420bn.

Helio Energy, formerly Alpha Solar 1 Co., Ltd., was established in 2020 with charter capital of VND10bn and has since raised capital to VND420bn. The company reported first-half 2026 revenue of VND114.3bn, up 91% from the same period a year earlier. The article does not disclose HIO’s first-day reference price, net profit for the period, or the exact date of the UPCoM delisting; the reference price will be calculated as the average of at least 30 UPCoM sessions prior to delisting.

Market Context

HIO last traded on UPCoM at VND10,300 on October 24, 2026, marginally above its VND10,000 par value. The broader market was firm in the week to October 23, with the VN-Index up 68.24 points to 1,774.15, ending four consecutive weekly declines, and average HoSE turnover of 718 million shares and VND15,865bn per session. Foreign investors were net sellers across all three exchanges that week, offloading more than VND1,105bn, a backdrop that may temper initial demand for a small-cap newcomer. The same HoSE approval cycle also cleared DatVietVAC Group Holdings for a November 2 listing at a VND54,800 reference price and roughly VND6,100bn market capitalisation.

Strategic Significance

A HoSE listing changes HIO’s investor base rather than its operating business. Main-board status typically opens the stock to funds with mandates restricted to listed exchanges, improves margin-lending eligibility at brokers, and raises disclosure and governance requirements. For a solar developer of this size, the practical test is whether the listing improves access to equity capital for project expansion at a time when Vietnam’s renewable sector is moving toward the Direct Power Purchase Agreement mechanism and the new power development plan. The 91% first-half revenue growth suggests a scaling asset base, but the article provides no margin or leverage data, so the quality of that growth remains unverified.

What to Watch

• HoSE’s official announcement of the HIO first-day reference price, derived from the 30-session UPCoM average.
• The UPCoM delisting effective date and any gap between the final UPCoM close and the HoSE reference price.
• HIO’s first HoSE trading session on November 16, 2026, including foreign-ownership room and liquidity.
• Full-year 2026 audited results, including net profit and debt levels not disclosed in the listing notice.
• Any subsequent filings on project pipeline, power purchase agreements, or capital-raising plans.