Most of this has been raised before and the short answer is wait for the news flow to happen. There is a bit due before the ipo. Sorry I don’t have the list with me but you can find it in some of the previous announcements. The news flow and work done to achieve the news flow and the resulting study due before the ipo should lift the share price.
The sub holder notice change only occurs at certain amounts of change and they may not have that amount of shares yet (if it is them), and if they are selling shares to themselves you may see a lot of churn before any change to trigger a notice (selling to yourself doesn’t change your holding)
hope that helps a bit
Vanadis IPO, page-219
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