Primo Brands slips as top shareholder looks to cut stake in secondary offering
06/08/2026 12:06
BUZZ-Primo Brands slips as top shareholder looks to cut stake in secondary offering ** Packaged water company Primo Brands' PRMB.N shares fall 5.2% to $24 premarket
** PRMB unveils secondary offering of 20 million shares by private equity firm One Rock Capital Partners
** Stock closed up 8.7% at $25.32 on Wednesday as robust retail sales drove Q2 beat
** One Rock is PRMB's top shareholder with a 32% stake, per LSEG data
** PRMB has 362.9 million outstanding shares
** Morgan Stanley is serving as underwriter for offering
** PRMB has entered stock purchase agreement with One Rock to buy $10 million of shares in a private transaction
** 10 of 12 brokerages rate the stock "buy" or higher and 2 "hold"; median PT $30 - data compiled by LSEG
** As of last close, PRMB up 54.9% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
Recent news on Primo Brands
See all newsBrief: Primo Brands Corp Files For Offering Of 20 Million Shares Of Class A Common Stock By The Selling Stockholder.
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