Lotte Chemical Pakistan changes name to Noventra Limited

Lotte Chemical Pakistan has switched its name to Noventra Limited, effective October 5, after its ownership changed hands. The PSX-listed firm, ticker LOTCHEM, disclosed the change in a filing to the exchange on Tuesday, according to Business Recorder. The rename follows the divestment of the company by Lotte Chemical Corporation of South Korea, whose stake passed to PTA Global Holding Limited, a venture of Montage Commodities FZCO and Asia Pak Investments.

The Securities and Exchange Commission of Pakistan approved the name change and issued a certificate of incorporation reflecting the new name. The company's website will move to www.noventra.ltd. The certificate, however, requires the firm to keep its former name next to the new one for ninety days from its issue, on office signage and in every document and notice.

Lotte Chemical Pakistan was incorporated in 1998 and makes purified terephthalic acid, a key ingredient for polyester fibre, yarn, film and PET. The plant was first developed by ICI, later became PTA Limited, and then passed to the Lotte Group. Lotte Chemical Corporation, the majority holder, held 75% of the shares at the end of 2021 and over 75.01% a year later. In January 2023 the Korean parent announced it would sell that holding for over $155 million to streamline its portfolio, a deal finalised by November 12, 2025.