Cardiff City chairman Vincent Tan is considering selling shares in the club, according to Reuters news agency.
Tan, the Malaysian multi-millionaire businessman, took control of Cardiff in 2010 by buying 36.1% of the club.
The process to float shares is said to be at an early stage, with the initial plan to list Cardiff on the Kuala Lumpur Stock Exchange.
Tan has promised to
spend £25m on players this summer
as Cardiff prepare for the Premier League.
What is an initial public offering?
An initial public offering (IPO) is a type of public offering where shares of stock in a company are sold to the general public for the first time
Through this process, a private company transforms into a public company
IPOs are often issued by smaller, younger companies seeking the capital to expand
The club will end a 51-year absence from the top-flight next season after winning the Championship title under manager Malky Mackay.
Tan, who was unavailable for comment, had been quoted in the Malaysia press as saying he would consider offers for the Welsh club, but later said he would
"like to be here for the long haul".
Should Cardiff make an initial public offering (IPO) on the stock exchange, they would become the second Premier League side to float shares in the past year.
raised $233.2m (£150m) in the largest sports team IPO ever when they were listed on the New York Stock Exchange in August.
Tan pushed through a controversial rebranding at Cardiff in June,
changing the club's home colour from blue to red
and introducing a new badge.
He said Cardiff's success this season justified his decisions, but has
ruled out a name change
and any further rebranding.
Tan is Malaysia's 10th richest person with a net worth of $1.3bn, according to business magazine Forbes.