90M public offering + 8M broker shares, so say 100M Patos stock,...

90M public offering + 8M broker shares, so say 100M Patos stock, all up.

46M sold by Patos, since listing but only net -25M, i.e. Some Patos related clients or Patos themselves have been buyers since listing.

That's the risk of waiting for the full qty to come out. It often doesn't happen, due to some IPO holders being sticky.

What we can say though is that Patos were still selling last week and so there's still some overhang to come out.

Shaw appear to have been sub-underwriters, judging by their selling qty since listing, however they appear to be out now.