Russian gold miner Polyus Gold
The company is waiting for approval from the Russian government to go ahead with the float, and Prokhorov told Reuters earlier this month he expected the green light in the nearest future.
Bank of America Merrill Lynch and JP Morgan have been picked to arrange the deal, Bloomberg reported, alongside Russian players VTB Capital and Renaissance Capital.
Polyus is seeking to follow in the footsteps of fellow Russian miners Polymetal
A spokesman for Polyus could not be reached for comment.
Prokhorov, worth around $18 billion according to Forbes magazine, would like to merge Polyus with another major gold miner after the listing. Canada's Kinross Gold
Polyus is valued at around $9.5 billion as of Monday's closing share price.
(Reporting by John Bowker; Editing by David Holmes)