* Offers 6 new shares for every 7 held

* Discount 52.4 pct to Thursday close; 37.3 pct to ex-rights

* Aims to issue 1.768 bln new shares, raising 7.5 bln eur

(Adds asset manager comment, detail)

By Gilbert Kreijger

AMSTERDAM, Nov 27 (Reuters) - ING (ING.AS: Quote, Profile, Research) priced a rights issue intended to raise 7.5 billion euros ($11.2 billion) at 4.24 euros per share, luring shareholders with a hefty discount of close to 40 percent as it looks to pay back state aid.

Europe's biggest insurer by assets will issue 1.768 billion new shares, on top of more than 2 billion shares currently outstanding, it said in a statement on Friday.

The transaction is set to become the eighth largest rights issue globally and Netherlands-based ING will use the bulk of the proceeds to repay half of the 10 billion euros in state aid it got last year to help it through the credit crisis. [ID:nGEE5AN0L0]

The firm is splitting its operations as part of a restructuring deal with the European Commission reached following the aid payment. [ID:nLB95132]