Credit Suisse is contemplating an accelerated bookbuilding as opposed to pursuing a separate listing for its Swiss banking division, as it looks to bolster capital levels.
According to Reuters reports, the quick-fire share sale could raise three billion Swiss francs (£2bn).
The bank then said in February that it was reconsidering the planned flotation of its Swiss banking division, but would hold off on making a decision until later this year.
Credit Suisse set up the new unit in November, after moving more than one million customers across. It caters for the lender's Swiss retail, corporate, private and investment banking clients and was set up as part of the corporate shake up under chief executive Tidjane Thiam.
Reuters said the likelihood of the IPO going ahead is now low, though the team behind it will continue to work on it as there has not been an official decision declared, as yet.
The latest Credit Suisse plan could be an attractive option for Switzerland's second-biggest bank after its steady share recovery from a low last summer. It would be able to sell shares in a short period of time and would boost its balance sheet after last year's heavy loss.
Credit Suisse declined to comment.
The bank's shares fell more than three per cent this afternoon on the news of the possible share sale.