The club want to bring Rantie in on an 18-month loan deal, which would take him to the end of his current contract with Swedish lower league side Hassleholm. They would then have an option to purchase him outright.
Rantie has been training with Malmo for over a week now, but the club have yet to finalise a deal for the former Orlando Pirates forward, though their Director of Sports, Per Agren, tells KickOff.com they are getting close.
"There are a few things that we still need to sort out, but we are very hopeful that we will be able to announce him as a Malmo player soon."
Agren, a former defender for Malmo and Helsingborg, says the 21-year-old is still a raw talent in their eyes, but a player who will offer them something different up-front.
"He is a young talent, but he has a lot of skill and we believe he will become a good goal scorer. He has speed and a good eye for the game. He is a very exciting player."
Rantie played a significant role in helping Orlando Pirates to the 2011/12 Premiership title, forming a lethal partnership with Benni McCarthy towards the end of the campaign.
The Buccaneers balked at a R2-million asking price for the player though, while the player himself turned down the opportunity to join Mamelodi Sundowns, believing game-time would be limited.
Malmo are currently second in the Swedish League just past the halfway point of the campaign, behind leaders Elfsborg on goal-difference.