Apollo Asia invests in Steppe Cement

Apollo Asia Fund Ltd has acquired 11.2m shares, representing 5.13 per cent of the issued share capital of Steppe Cement Ltd, which produces construction materials in Kazakhstan.

Steppe said it was "pleased" to have the new significant shareholder, which is managed by Apollo Investment Management. Shares in Steppe Cement were down 0.3 per cent at GBP0.2094 on Friday.