He has impressed in the Croatian Premier League, while he can play as a winger or attacking midfielder.
Pep denied concrete links to the player, but was enthusiastic in his praise when asked about him by reporters.
He said about Olmo: "I said after our home game, it was an incredible surprise.
"He came from the Barca academy - it's not easy, he's one of the best players in the Spain academy, and he'll come to one of the big clubs in Europe.
"I'm so glad for him, he's doing so well. The future is in his hands."