Power Stocks Lose 700 Billion Won in a Day

Shares of Forgent Power Solutions (FPS) fell 5.34% on the New York Stock Exchange, closing at $40.40. Trading volume reached 4.58 million shares, and the company’s market capitalization stood at about $9.86 billion—roughly 14.3 trillion Korean won at an exchange rate of ₩1,455 to the dollar. In a single day, around $500 million (approximately ₩700 billion) of market value was wiped out.

On March 30, Forgent completed a public offering of approximately 34.5 million Class A common shares at $29.50 apiece, raising about $1 billion (around ₩1.5 trillion). Affiliates of its parent company, Neos Partners, monetized a significant stake in the process.

Earlier in March, the company reported second-quarter 2026 results showing a 69% year-over-year revenue surge. However, following consecutive large offerings, profit-taking and overhang concerns have weighed on the stock in the short term.

Forgent Power Solutions is a U.S. power-infrastructure firm that designs and manufactures power-distribution equipment—transformers, switchgear and power skids—for data centers, power grids and energy-intensive industrial facilities.

Its February IPO on the NYSE attracted attention as a mega deal that raised about $1.5 billion (around ₩2.2 trillion). While booming data-center investment underpins growth expectations, analysts warn that major-shareholder sell-offs and potential additional share issuances could heighten future volatility.