BlueBird IPO has meter problems

From humble beginnings the Indonesian taxi firm’s goal is to expand its fleet to beyond 30,000 during the next few years. But a planned IPO remains elusive.

If New York is known for having yellow taxis and London for black ones, Jakarta may soon be synonymous with blue cabs.

Blue Bird, a third-generation family-run taxi operator, has been whisking locals and international travellers alike around Jakarta for the past four decades.

Founded by the late Mutiara Djokosoetono in 1972 with 25 cars, Blue Bird now boasts a fleet of more than 30,000 vehicles and operates across 17 cities in Indonesia. It intends to hold an initial public offering to take it to the next stage of its evolution.

“I think it’s fairly straightforward. It is size and brand. If you talk...

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