Lotte Chemical Pakistan Limited has proposed doubling its authorized share capital to Rs. 40 billion from Rs. 20 billion and changing its name to Noventra Limited, subject to approval from shareholders and the relevant authorities.
The company’s board approved the proposals through a circular resolution dated August 28, 2026. Under the plan, the authorized share capital will increase from Rs. 20 billion, divided into 2 billion ordinary shares of Rs. 10 each, to Rs. 40 billion, comprising 4 billion ordinary shares of the same denomination.
The proposed increase will require amendments to the company’s Memorandum and Articles of Association. The board has also proposed changing the company’s name from Lotte Chemical Pakistan Limited to Noventra Limited, subject to the requisite approvals.
The proposals will be placed before shareholders for approval through a special resolution at an extraordinary general meeting scheduled for September 22, 2026. The company will close its share transfer books from September 15 to September 22, both days inclusive, according to the disclosure submitted to the Pakistan Stock Exchange.
The company said the proposed changes are being made in accordance with the applicable requirements of the Securities Act, 2015, the Companies Act, 2017 and the Pakistan Stock Exchange Rule Book. The disclosure was signed by Faisal Abid, company secretary, and submitted to the exchange on August 31, 2026.
The proposed increase relates to the company’s authorized share capital and does not by itself represent an increase in paid up capital. The proposals will take effect subject to shareholder approval and other required regulatory approvals.
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