Ghedjemis was a standout performer in Serie B last season, scoring 15 goals in 38 appearances to help fire Frosinone to promotion back to Serie A.
The 2002-born winger has also been called up by Algeria for the World Cup, adding international exposure to an already significant summer for the player.
Frosinone are not willing to sit down at the negotiating table for anything less than €20m for Ghedjemis, a figure understood to be within Borussia Dortmund's range.
Any concrete discussions over a transfer are likely to be put on hold until Ghedjemis completes his commitments with Algeria at the tournament, with Frosinone in no rush to resolve his future while he remains focused on international duty.
Ghedjemis was instrumental in Frosinone's promotion campaign, with his goal return from the wing marking him out as one of the standout attacking performers in Serie B last season. That kind of production at second-tier level, allied with his World Cup involvement this summer, has significantly raised his profile across European football, with Dortmund among the clubs now monitoring his situation closely.
Frosinone's valuation reflects both his importance to the club's promotion push and the financial reality of returning to Serie A, where the income generated by top-flight football gives the club greater leverage to hold firm on their asking price rather than accepting an early, discounted bid.
For Dortmund, Ghedjemis would represent a relatively affordable addition to their wide options compared to some of the bigger-ticket targets being discussed elsewhere in the squad this summer, with his combination of pace and end product fitting the profile the club typically looks for in that position.