Vodacom in Tanzania has filed a prospectus with the country's capital markets regulators for an initial public offering. Pricing of the share sale is confidential until the regulator approves it. The country's eight operators are required by law to have 25% local ownership by December 31. The other two major operators, Millicom subsidiary Tigo and a local unit of India's Bharti Airtel, are yet to file for IPOs. Industry sources said Tanzania's mobile phone companies will likely complete the listing process in the first quarter of 2017. If they miss the mandatory listing deadline, it is unclear if they will be fined or have their network operating licences suspended. The government hopes the move will bring more transparency and offer the public a share in the industry's profits.