The return to the Stock Market would come a year after US investment fund Varde Partners bought the distressed house building business from Lloyds/HBOS, which took control of the heavily debts house builder in 2009.
Plans are being considered as major house builders grow in confidence after reporting big profit growth and a returns to double digit margins.
According to city reports the board will make it final decision next week.
The sector’s share performance has also be buoyed by a raft of government measures to boost the housing market, including NewBuy and FirstBuy schemes and most recently pledges to support rented housing developments with a package of £10bn loan guarantees.
Crest revealed pre-tax profits of £40.5m in the the year ending October 2011 with margins at an industry beating 18% on revenue up 12% to £319m.
But the firm is only building around half the 3,000 homes a year it built during the boom and needs extra cash to grow.