As of the beginning of this afternoon the 8th of July, the arbitrage-gap between the rights and shares of Wavin NV is getting smaller vs. this morning (reference until 12:40).
This may be the sign that speculative trading is diminishing with regard to the Rights offering of Wavin NV.

In the sheet we present:

• theoretical/hypothetical share and rights price
• the actual development and quotes of today (source: euronext) until 12:40
• we compared the theoretical share price in relation with the Rights offering with the actual share price
• we only compared Share and Rights price data from same time order-execution data points
• a histogram of the arbitrage premium or discount of the trades

Conclusions:

• in all trades there is a discount of the Rights vs the Shares
• this morning, most of the trades were executed at the biggest arbitrage gap (up to 8%)
• from 11:31 am on, the arbitrage gap declined (at first to 2.65%)
• 12:39 pm: 3.47% arbitrage gap

This may be the (first) sign that speculative trading is diminishing with regard to the Rights offering of Wavin NV.

disclaimer

the author has a position in this stock at the moment of publishing