NEW YORK, July 29 (Reuters) - China Distance Education Holdings Ltd (DL.P: Quote, Profile, Research) shares fell 5 percent in the on-line education and test preparation provider's market debut on Wednesday, a day after its initial public offering priced at the lower end of the forecast range.

China Distance Education's IPO priced at $7 per American depositary receipt. Early Tuesday, the estimate range was revised downward to $7 to 8$ from $9 to $11.

The shares fell to $6.65 in morning trading on NYSE Arca.

China Distance Education, based in Beijing, is the second Chinese testing company to go public in the United States this year. ATA Inc (ATAI.O: Quote, Profile, Research) went public in January, raising $46.3 million, also pricing at the bottom of its estimate range. Since ATA's IPO, its shares have appreciated by around 71 percent.

The Beijing-based company sold 8.75 million ADRs, each worth four common shares, raising $61.25 million.

Lead underwriters were Citigroup (C.N: Quote, Profile, Research) and Merrill Lynch MER.N. (Reporting by Phil Wahba; Editing by Brian Moss)