Steppe Cement CEO raises stake in the company, Kazakhstan
Javier Del Ser, the CEO of Steppe Cement, increased his stake in the firm on Tuesday with the purchase of 650,000 ordinary shares at a price of 25p per share, according to reports by ShareCast.
Following the GBP162,500 transaction, Del Ser holds 12,867,660 ordinary shares in the company, equal to 7.19 per cent of the total issued share capital,
Steppe is a leading cement producer in Kazakhstan. Its cement production facilities consist of four wet kilns and one dry process kiln. Del Ser is the Chairman of Steppe's operating subsidiaries, Central Asia Cement and Karcement.
Earlier this week Steppe Cement reported a 28 per cent rise in third quarter 2012 revenue compared to the previous year and sales were up 16 per cent during the same period. It also revised its outlook for Kazakhstan cement consumption in 2012 upwards from 6.8Mt to 7Mta.