Lotte Chemical Pakistan Limited (LOTCHEM) has changed its name to Noventra Limited with effect from October 5.
The listed company said in a filing to the Pakistan Stock Exchange on Tuesday.
The company said the name change was approved by the Securities and Exchange Commission of Pakistan (SECP), which issued a certificate of incorporation reflecting the change.
Consequently, the website of the company will move to www.noventra.ltd.
“This change is subject to the condition that for a period of ninety days from the date of issue of this certificate, the company shall continue to mention its former name along with its new name on the outside of every office or place in which its business is carried on and in every document or notice referred to,” read the SECP certificate.
Lotte Chemical Pakistan Limited was incorporated in Pakistan in 1998. The company manufactures and sells Purified Terephthalic Acid (PTA), a key component for producing polyester fibre, polyester filament yarn, polyester film, and polyethene terephthalate (PET).
Historically, the plant was initially developed by ICI, then became PTA Limited, before being acquired by the Lotte Group. Lotte Chemical Corporation (LCC) of South Korea was the majority shareholder, holding 75% of the shares as of December 31, 2021, and over 75.01% as of December 31, 2022.
In January 2023, Lotte Chemical Corporation announced its decision to sell its 75.01% stake in LOTCHEM for over $155 million to optimise its business portfolio. This divestment was finalised by November 12, 2025, when PTA Global Holding Limited, a joint venture between Montage Commodities FZCO and Asia Pak Investments, acquired 78.74% of LOTCHEM’s total issued and paid-up capital. This marked Lotte Chemical Corporation’s complete exit from the company.