I am an institutional trader, let me tell you what is going to happen in last thirty minutes.
Closed at 4.18. A little surprising for me but it is less than 1% discount --- so still normal. you can see the final one minute the volume spiked --- because many ADR arbitragers just buy at close to avoid risks and reap that seemingly probable 1% low-risk arbitrage -- it has some risk of course but it is minimal if no NOK bad news -- they just have to cover position at finland opening.
If it closes at 4.15 then it will be really weird because NOK arbitrage is rarely more than 1.5% because it is very liquid especially in finland (its minimum spread is 0.00X even without dealers and market makers). If that is the case then longs have to be cautious because it will be like "maybe some one got the bad news ahead" or "shorts are that strong?"