Dubai-based contracting firm Drake & Scull, which aims to raise at least 1 billion dirhams ($272.3 million) in an initial public offering, is still awaiting the regulator's green light, a spokeswoman said.

The firm, which operates in the Gulf, Egypt and Jordan, had been planning to list by the second quarter of this year, executive director Khaldoun Tabari said in February.

"(We) are sill awaiting approvals from the Emirates Securities and Commodities Authority," she said. "There is no timeframe yet."    

The firm plans to sell a 55 percent stake and list on the Dubai Financial Market. A company official told Reuters in June the IPO would take place that month.

HSBC Holdings Plc and Dubai-based Al Mal Capital are advising on the sale. - Reuters