Lotte Chemical Plans To Double Authorized Capital To Rs. 40 Billion

Lotte Chemical Pakistan Limited has proposed doubling its authorized share capital to Rs.

Key points

• The disclosure was signed by Faisal Abid, firm secretary, and submitted to the exchange on August 31, 2026.
• The company's board approved the proposals through a circular resolution dated August 28, 2026.
• The proposals will be placed before shareholders for approval through a special resolution at an extraordinary general session scheduled for September 22, 2026.
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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.

Meanwhile, the company's board approved the proposals through a circular resolution dated August 28, 2026. Under the plan, the authorized share capital will growth 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. Privatization Program Falls Behind As Govt Misses Key Targets.

Notably, the proposed growth will require amendments to the company's Memorandum and Articles of Association. The board has additionally proposed changing the company's name from Lotte Chemical Pakistan Limited to Noventra Limited, subject to the requisite approvals.

Notably, the proposals will be placed before shareholders for approval through a special resolution at an extraordinary general session scheduled for September 22, 2026. The firm 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.

For context, the firm stated the proposed changes are being created in accordance with the applicable requirements of the Securities Act, 2015, the Businesses Act, 2017 and the Pakistan Stock Exchange Rule Book. The disclosure was signed by Faisal Abid, firm secretary, and submitted to the exchange on August 31, 2026.

For context, the proposed growth relates to the company's authorized share capital and does not by itself represent an rise in paid up capital. The proposals will take effect subject to shareholder approval and other required regulatory approvals. Stay Connected with ProPakistani.

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Taken together, the developments around lotte Chemical Plans To Double Authorized Capital To Rs. 40 Billion point to a situation that is still moving, and the coming days should bring more clarity.