Germany's second-largest bank said it would seek to place the new shares with institutional investors, a move designed to raise its common equity Tier one ratio to more than 10 percent and its leverage ratio to 3.9 percent. These ratios help to gauge a bank's financial strength.
"With the successful conclusion of the capital measure announced today the bank expects a further increase in the Common Equity Tier 1 ratio to ... more than 10 percent," the bank said in a statement.
The bank also reported an 83 percent jump in first-quarter net profit to 366 million euros.
After Commerzbank's $1.45 billion settlement, analysts had said the market would focus on whether the bank would need to strengthen its capital position.
Two people familiar with the share sale transaction told Reuters that the capital increase was not connected to plans by rival Deutsche Bank to sell its retail chain Postbank.
"Postbank is not an issue. The only reason for the cap hike was to strengthen capital ratios," one of the sources said.
Another person familiar with the matter said the bank aimed to sell the shares as close as possible to Monday's closing share price, which was 12.91 euros.