Governments sell Cameco shares

The two major shareholders of Cameco (TSE) intend to sell 2 million shares in a secondary issue.

The governments of Canada and Saskatchewan say the shares will be sold at $25.50 each, on a bought-deal basis, for gross proceeds of $102 million. The province of Saskatchewan will then hold 18.2 million (or 34.9%) of the outstanding shares and the federal government, 3 million (or 5.7%).