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BEIJING, July 3  -- Chinese Initial Public Offering (IPO) volume and value may see a considerable rise later this year after lackluster performance in the first six months, according to a report released by PricewaterhouseCoopers (PwC).

PwC expected around 100 companies to be listed in the second half of 2014, which would raise 70 to 120 billion yuan (11 to 19 billion U.S. dollars). The Shanghai Main Board will attract about 20 listings while the Shenzhen SME Board could host nearly 80 IPOs, PwC said Thursday.

According to PwC's forecast, average price earning (PE) ratio of companies listed in 2014 would fall in the range between 20 and 40.

"The PE ratio is returning to a reasonable level," said Jean Sun, PwC China Assurance Partner.

In the first half of 2014, 52 companies went public, raising 35.2 billion yuan, down 50 percent and 55 percent respectively, compared to the same period in 2012.

"The average volume of funds raised is a historic low for the past few years," the report said.

PwC attributed the sluggish IPO performance to changing economic conditions and the regulatory climate.

"We noticed that the uncertain regulatory climate affected companies' strategic planning and the capital markets' development," said Frank Lyn, PwC China and Hong Kong Markets Leader.

The Chinese securities regulator shut down IPOs completely in 2013 to overhaul the application process and resumed the funding pipeline in January.