** Shares of bottled water firm Primo Brands PRMB.N down 1.5% post-market to $31.84 after secondary offering announced

** Poland Spring owner says 47.5 mln shares to be sold by two holders affiliated with One Rock Capital Partners

** Also, co to repurchase $100 mln worth of shares from underwriters BofA and Morgan Stanley

** Alternative investment manager One Rock owns ~124 mln shares, roughly 33% stake, per LSEG data

** PRMB has ~380.1 mln shares outstanding for ~$12.3 bln market cap

** Co formed in Nov after Primo Water and BlueTriton Brands completed merger

** One Rock had owned all of common stock of privately-held BlueTrition, formerly known as Nestle Waters North America. In 2021, Nestle NESN.S sold some its water brands to One Rock

** PRMB shares on Thurs closed down 1.6% at $32.32, trimming YTD gain to 5%

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))