There is never any escrow for IPO shares and anyone can sell unless they choose to voluntary escrow. I think when they say can’t sell it is referring to good faith but people are simply greedy and or risk adverse and when the price goes up too much or comes down, they will sell.
This has been in development for over 6 years prior so of course there will be seed and pre IPO investors holding at lower share prices - however they will be escrowed by ASX as compulsory for 12 and 24 months (refer to prospectus)
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There is never any escrow for IPO shares and anyone can sell...
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