Pfizer is looking to sell about 700 million ordinary shares in Haleon , its bookrunner J.P. Morgan said on Tuesday, lowering its stake in the British consumer healthcare company to about 7.3% from 15%.

Pfizer Inc. is offering around 700 million shares in Haleon Plc, representing a roughly 7.7% stake in the maker of Sensodyne toothpaste.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyA Blueprint for Better Bike LanesAs E-Bikes Boom in NYC,

Pfizer (NYSE:PFE) announced Tuesday it plans to sell roughly 700M ordinary shares in Haleon (NYSE:HLN) to lower its stake in the British consumer healthcare giant from about 15.0% to 7.3%, implying a divestment of approximately 7.