Lotte Chemical Pakistan Limited on Wednesday announced a major change in ownership and leadership following the completion of its acquisition by PTA Global Holding Limited, marking the exit of Lotte Chemical Corporation, South Korea from the company.
In a notice submitted to the Pakistan Stock Exchange (PSX), the listed company stated that PTA Global Holding Limited has acquired a total of 1,192,292,329 ordinary shares, which constitute 78.74% of the company’s total issued and paid-up capital.
This stake comprises 75.01% acquired directly from Lotte Chemical Corporation and an additional 3.73% obtained through a mandatory public offer to the remaining shareholders, as per the Securities Act, 2015, and the Takeover Regulations.
The notice clarified that PTA Global Holding Limited has gained control of 1,192,292,329 ordinary shares of the company, directly and through its affiliated entities, representing approximately 78.74% of the company’s total issued and paid-up capital, while South Korea’s Lotte Chemical Corporation has sold its entire stake in the company.
In light of the change in ownership, the company also announced a significant change in the Board of Directors. Several former directors have submitted their resignations from the company’s board, effective immediately, i.e., from November 12, 2025.
