NEWS IN BRIEF Cameco offering closes successfully

An initial public offering by Cameco (TSE) has closed successfully, raising gross proceeds of $130 million for the uranium producer. About 60% of the 10.4-million share issue was bought by institutions, with the remainder going to both Canadian and foreign individuals. Net proceeds, after payment of the underwriter fees and expenses of the issue, will be used immediately to reduce Cameco’s $300-million long-term debt, the company says.