Key Takeaways
- Lotte Chemical Pakistan Limited has changed its name to Noventra Limited.
- The name change was approved by the Securities and Exchange Commission of Pakistan.
- PTA Limited, the company's predecessor, was initially developed by ICI.
Lotte Chemical Pakistan Limited has officially changed its name to Noventra Limited, effective from October 5. This rebranding was announced in a filing to the Pakistan Stock Exchange on Tuesday.
The Securities and Exchange Commission of Pakistan (SECP) approved the name change and issued a certificate of incorporation reflecting the new name. Consequently, the company’s website will now be accessible at www.noventra.ltd.
According to the SECP certificate, for a period of ninety days from the date of issue, the company must 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.
Lotte Chemical Pakistan Limited was incorporated in Pakistan in 1998 and has been a key player in the manufacturing and sale of Purified Terephthalic Acid (PTA), a crucial component for producing polyester fibre, filament yarn, film, and polyethylene 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, leaving Noventra Limited to operate independently in the market.
