Lotte Chemical Pakistan Limited (PSX: LOTCHEM) has officially changed its name to Noventra Limited, effective October 5, following a formal certification from the Securities and Exchange Commission of Pakistan (SECP). The listed petrochemical company informed the Pakistan Stock Exchange on Tuesday that the regulatory body has issued a fresh certificate of incorporation reflecting the corporate rebranding.
The name change serves as the final step in the company’s major corporate transition following its divestment by South Korea’s Lotte Chemical Corporation (LCC). The majority stake was acquired by PTA Global Holding Limited—a joint venture between Montage Commodities FZCO and Asia Pak Investments.
“The Securities and Exchange Commission of Pakistan has officially certified the renaming of Lotte Chemical Pakistan Limited to Noventra Limited, effective October 5.”
Corporate Transition and Regulatory Requirements
To ensure transparency during the transition period, the SECP has attached a mandatory transitional condition to the rebranding approval.
- 90-Day Dual Naming Period: Under the terms of the SECP certificate, Noventra Limited must continue to display its former name (Lotte Chemical Pakistan Limited) alongside its new name on the exterior of every office, place of business, and all official corporate documents and notices for a period of 90 days from the issuance date.
- Digital Migration: Reflecting the updated corporate identity, the company’s official web presence is being migrated to a new domain at www.noventra.ltd.
Decades of Transition: From ICI to Noventra
Incorporated in Pakistan in 1998, the company is the domestic pioneer in manufacturing and selling Purified Terephthalic Acid (PTA), an essential petrochemical raw material used to produce polyester fibre, polyester filament yarn, polyester film, and polyethene terephthalate (PET) packaging. The massive plant’s ownership history mirrors the evolution of Pakistan’s petrochemical sector:
- Founding Era: The industrial facility was initially developed and operated by ICI.
- PTA Limited: It later transitioned into a standalone entity known as PTA Limited.
- The Lotte Era: South Korea’s Lotte Group subsequently acquired the plant. By December 2021, LCC held 75% of the shares, marginally growing its stake to 75.01% by the end of 2022.
- The Noventra Era: In January 2023, Lotte Chemical Corporation announced its strategic decision to sell its 75.01% stake for over $155 million to optimize its global business portfolio. The transaction culminated on November 12, 2025, when PTA Global Holding Limited finalized the acquisition, eventually securing 78.74% of the company’s total issued and paid-up capital and facilitating LCC’s complete exit from the Pakistani market.
| Corporate Transition Fact Sheet | Details |
| New Corporate Identity | Noventra Limited |
| Former Name | Lotte Chemical Pakistan Limited (PSX: LOTCHEM) |
| Effective Date of Change | October 5, 2026 |
| New Digital Domain | www.noventra.ltd |
| Major Shareholder (78.74%) | PTA Global Holding Limited |
| Acquiring Joint Venture | Montage Commodities FZCO & Asia Pak Investments |
| Divested Entity | Lotte Chemical Corporation (South Korea) |
“Valued at over $155 million, the strategic divestment by South Korea’s Lotte Chemical Corporation was finalized in late 2025, paving the way for the Noventra rebranding.”