Parmalat shares returned to the market today two years after the Italian food group's collapse.
This morning the shares were trading at €3.131 on the Milan stock exchange - over three times their nominal value, but just below the €3.15 reference price set by the bourse on the basis of pre-market levels.
At current levels, Parmalat has a market value of €5 billion, almost three times its capitalisation before the crisis broke in December 2003.
Many investors are betting suits filed by Parmalat's bankruptcy administrators will result in hefty dividends, helping to bolster the value of its shares.
Since its December 2003 slide into insolvency Parmalat has taken lawsuits claiming €13.1 billion in damages from former financial partners, many of them now shareholders after a debt-for-equity swap.
Parmalat has also filed claims for €7.46 billion from banks that arranged deals in the months preceding its collapse.
Suitors for Parmalat are already lining up. Italy's top fresh milk producer, Granarolo, became the first to say openly it was considering an offer for its larger rival on Tuesday. It is supported by Italy's agriculture minister and other politicians who favour an "Italian solution" for Parmalat as the country enters a general election year.
Other potential bidders include France's Lactalis - which is Italy's second largest cheese producer. Italian newspapers have also named Swiss giant Nestlé as a prospective buyer.