Drinks company Britvic is down around 2% as traders heard talk of a share sale.
Morgan Stanley was said to be placing 8.8m shares at between 495p and 505p each, a 3.5% stake worth around £44m. The news has sent Britvic - which is in limbo as far as a proposed merger with rival AG Barr is concerned - down 10p to 499p.
Fruit Shoot maker Britvic recently announced a cost cutting plan ahead of a decision by the Competition Commission, due by July, as to whether its proposed tie-up with Irn Bru maker Barr can go ahead.
The proposed sale is the latest sign of investors cashing in profits after the market's recent rise. Last week Japan's Sumitomo Mitsui Banking Corporation disposed of half its 1.3% shareholding in Barclays, while an instituional investor sold a 3.6% stake in defence group Cobham.
Moneysupermarket.com's founder Simon Nixon - who moved to a non-executive role in April - sold an 18.5% stake in the business, raising £200m in cash.
