UPDATE 1-Xinyuan Real Estate sees IPO at $13-$15/ADS

(Adds details)

Nov 26 (Reuters) - China's Xinyuan Real Estate Co Ltd registered its initial public offering of 17.5 million American depositary shares (ADS) at an estimated price of $13 to $15 each.

Each ADS represents two common shares, the company said in an amended filing with the U.S. Securities and Exchange Commission.

The Zhengzhou, Henan-based company said it expects net proceeds of about $224.9 million from the offering and will use it primarily to acquire land-use rights for future property development projects.

The Chinese residential real estate developer said Merrill Lynch, Pierce, Fenner & Smith Inc, Deutsche Bank Securities Inc and Allen & Co LLC were underwriting the IPO.

The company, which had earlier filed with regulators to raise up to $299.5 million from its IPO, said its ADS have been approved for listing on the New York Stock Exchange under the symbol "XIN." (Reporting by Aditi Samajpati in Bangalore; Editing by Anupama Dwivedi)