Xinyuan Real Estate, a Sam Zell-backed Chinese residential real estate developer in Tier II cities, priced its offering of 17.5 million ADSs at $14, the mid-point of its proposed $13-$15 range, giving it a market cap just over $1 billion. Merrill Lynch lead managed the offering, and the stock is expected to commence trading on the NYSE under the ticker symbol "XIN" on Wednesday.
