Anglo Irish Bank Corporation is to place 33 million new shares on the market this morning.
These are expected to raise around €415 million in new capital to fund the next phase of the bank's growth.
"This placing reflects the board's confidence in the future" said David Drumm, Anglo's chief executive.
"This new capital, together with the sizeable investment we have made in our people and infrastructure, provide an excellent platform to take AIBC through its next phase of growth," Mr Drumm added.
Davy stockbrokers is acting for Anglo in connection with the placing.
