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Wools of New Zealand want Māori incorporations and other large strong wool growers to buy into its scheme to turn itself into an international sales and marketing company.
Chairman Mark Shadbolt says it has extended until it 25th of February deadline for farmers to buy shares in the new venture.
It wants to raise at least $10 million and get commitments of at least 20 million kilograms of wool production a year.
Mr Shadbolt says more than 500 farmers representing 12 million kilograms of wool production had signed up so far, but many of the large growers including state owned Landcorp are holding back.
Some are wary that similar initiatives have failed in the past, and they take the view a majority of farmers need to join for a cooperative to work.
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