The club, last season's Bundesliga runners-up, will issue up to 24.6 million new shares, the paper reported, citing sources close to the company. The report was from an advance excerpt of an article to be published on Thursday.
Sportswear maker Puma, which makes Dortmund's jerseys, and insurer Signal Iduna are prepared to take large share stakes, the report added.
Dortmund said earlier this month it was talking with potential investors and expected a result by Sept. 30, and Puma's chief executive has not ruled out an investment in the club.
Dortmund's shares closed at 4.93 euros on Wednesday, giving it a market value of about 303 million euros.
The Bundesliga season starts on Friday.
BVB and Puma declined to comment.
(Reporting by Victoria Bryan, Hans Seidenstuecker and Joern Poltz)
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