Wool sector investor Wool Equities said BioPacific Ventures is looking to acquire 8% of its shares for 90 cents a share.

BioPacific's, via Karios Holdings, is writing to Wool Equties' shareholders offering to directly buy the stake.

Karios presently holds a 0.94% stake in the firm.

BPV could also acquire more than 8% but will not go higher than a 19.9% shareholding.