China's travel search engine Qunar has been listed on the Nasdaq, at $15 a share, as of November 1.

The Beijing-based company, under the ticker symbol of QUNR, saw its share price skyrocket 107.93 percent to $31.19 shortly after it began trading on that day.

Qunar, founded in May 2005 and registered in the Cayman Islands, plans to raise about $167 million by offering about 11.11 million American depositary shares (ADSs). Capital raised from the initial public offering will be used to scale up the company's investment in technology, infrastructure, and research and development, as well as to strengthen its marketing input, in order to meet future demands for mergers and acquisitions, the company said at a press briefing held in New York.

The company, which has China's search engine Baidu as its biggest shareholder, reported $58.46 million in revenue from January to June, up 75 percent year on year, with 88 percent of revenue generated by the pay-per-click model.