Invesco Down On Morgan Stanley Stake Sale (IVZ)

Shares of Invesco Ltd.

are down sharply this morning, after reports came out that Morgan Stanley

was selling over 30 million shares of the investment manager at a price of $21.43 per share. The offering will raise $664 million for Morgan Stanley, as it seeks to raise capital. At last check, shares of IVZ were trading at $22.07, a loss of $1.13 or 4.8%.