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

Lotte Chemical Pakistan Limited has proposed a significant increase to its authorized share capital, raising it from Rs. 20 billion to Rs. 40 billion. This proposal, if approved by shareholders and regulatory authorities, would see the company rename itself from Lotte Chemical Pakistan Limited to Noventra Limited. The board of Lotte Chemical approved the proposals through a circular resolution on August 28, 2026.

Currently, the company has 2 billion ordinary shares of Rs. 10 each, but the proposed increase would raise its authorized share capital to 4 billion shares. This proposal requires amendments to the company’s Memorandum and Articles of Association. The company will present these proposals to shareholders for approval at an extraordinary general meeting scheduled for September 22, 2026.

The share transfer books for this period will close from September 15 to September 22, 2026. The company emphasizes that the proposed changes comply with the Securities Act, 2015, the Companies Act, 2017, and the Pakistan Stock Exchange Rule Book. However, it's important to note that the increase in authorized share capital does not automatically translate into an increase in paid-up capital.

The final effect of these proposed changes will depend on shareholder approval and other regulatory approvals.