Lotte Chemical Pakistan eyes Rs40bn capital, Noventra name

MG News | August 31, 2026 at 09:35 AM GMT+05:00

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August 31, 2026 (MLN): Lotte Chemical Pakistan Limited (PSX: LOTCHEM) plans to increase its authorized share capital from Rs20bn to Rs40bn, subject to approval from the company’s members.

The Board of Directors, through a circular resolution dated August 28, 2026, approved the increase, which will raise the authorized ordinary shares from 2bn to 4bn, with a face value of Rs10 each.

The Board also approved, subject to requisite approvals, changing the company’s name from Lotte Chemical Pakistan Limited to Noventra Limited.

The proposed changes require amendments to the Memorandum and Articles of Association and approval of members through a special resolution in accordance with Sections 85 and 12 of the Companies Act, 2017.

The company will convene an Extraordinary General Meeting (EOGM) on September 22, 2026, while the Share Transfer Books will remain closed from September 15 to September 22, 2026, both days inclusive.

The aforementioned information was disseminated through a notification to Exchange.

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