Lotte Chemical Pakistan eyes Rs40bn capital, Noventra name
Mettis Global • • 1 min read
Lotte Chemical Pakistan Limited, listed on the PSX under LOTCHEM, has proposed doubling its authorised share capital from Rs20bn to Rs40bn, according to Mettis Global. The board approved the move through a circular resolution dated August 28, 2026, but the increase still needs shareholder consent. Under the plan, authorised ordinary shares would climb from 2bn to 4bn.
The board has also approved, subject to the necessary clearances, renaming the company Noventra Limited. Both changes require amendments to the Memorandum and Articles of Association and a special resolution of members under Sections 85 and 12 of the Companies Act, 2017.
An extraordinary general meeting is set for September 22, 2026, while share transfer books will stay closed from September 15 to September 22, 2026, both dates included. The announcement reached the exchange as a formal notification.
At a glance
- Authorised share capital would rise from Rs20bn to Rs40bn, subject to member approval.
- The board proposes renaming the company Noventra Limited, pending the required approvals.
- An EOGM is set for September 22, 2026, with share transfer books closed September 15 to 22.
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Originally reported by Mettis Global
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