Indonesia's PT Blue Bird was reportedly forced to delay its planned initial public offering this year. The country's biggest taxi operator failed to receive regulatory approval in time, sources told Reuters. 

According to the report, it is unclear if the IPO could happen in 2014 when Indonesian elections are scheduled. Sources earlier said that the planned listing could raise USD250 million. 

The Financial Services Authority of Indonesia had not received complete documentation for the IPO. It is the government agency that regulated and supervises the financial services sector in Indonesia, the report said.

A Blue Bird senior executive told Reuters last month that the taxi company is not wedded to an IPO. It may turn to strategic investors among other options to raise funds for expansion. Blue Bird also plans to increase its taxi fleet by around 50% to 30,000 over the next few years, he added. 

Bloomberg previously reported that Blue Bird's IPO could be Indonesia's largest listing in almost three years.