Lotte Chemical Pakistan Moves to Raise Authorized Capital, Rebrand as Noventra
KARACHI, August 31, 2026: Lotte Chemical Pakistan Limited has announced plans to increase its authorized share capital from Rs20 billion to Rs40 billion and change the company’s name to Noventra Limited, subject to the required regulatory and shareholder approvals.
According to a disclosure submitted to the Pakistan Stock Exchange (PSX), the company’s Board of Directors approved the proposals through a circular resolution dated August 28, 2026. The proposed increase will double the authorized capital from Rs20 billion, divided into 2 billion ordinary shares of Rs10 each, to Rs40 billion, comprising 4 billion ordinary shares of Rs10 each.
The proposed rebranding would see Lotte Chemical Pakistan Limited adopt the name Noventra Limited. The company said corresponding amendments will be made to its Memorandum and Articles of Association to reflect both the higher authorized share capital and the change in name.
The proposals will require approval from the company’s members through a special resolution in accordance with the Companies Act, 2017. To seek this approval, the Board has decided to convene an Extraordinary General Meeting (EOGM) on September 22, 2026.
The company has also announced that its share transfer books will remain closed from September 15 to September 22, 2026, both days inclusive. The notice for the EOGM will be transmitted within the stipulated timeframe through the Pakistan Unified Corporate Action Reporting System (PUCARS).
The proposed changes mark a significant corporate step for Lotte Chemical Pakistan as it prepares for a new name and a substantially larger authorized share capital. However, both proposals remain subject to the necessary approvals, including those of the company’s shareholders and relevant authorities.
The disclosure was signed by Faisal Abid, Company Secretary, and dated August 31, 2026.
