Editorial Summary

Chinese residential real estate developer Xinyuan Real Estate Co., Ltd. (xyre.com) announced today that it will begin trading on the New York Stock Exchange on December 12 under the symbol “XIN”. Xinyuan plans to issue 17.5 million American Depositary Shares (ADS), each representing two common shares, at a price of $14.00 per ADS in the initial public offering. Merrill Lynch is underwriting the deal with Deutsche Bank Securities Inc. and Allen & Company LLC signed on as co-managers. Xinyuan Real Estate focuses on middle-income consumers in second-tier cities including Chengdu, Hefei, Jinan, Suzhou and Zhengzhou.