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Spain this week moved forward with plans to privatize its national lottery through an initial public offering, while Dubai-based ports operator DP World (DPW.DIF) closed in on a long-awaited London listing.

Spain on Wednesday appointed Rothschild as financial adviser on a share sale for Sociedad Estatal de Loterias y Apuestas del Estado SA that is seen valuing the company at up to EUR25 billion. A 30% stake sale would make it the country's largest IPO on record, and one of the largest to date in Europe.

The deal is a key component of Spain's plan to cut its budget deficit to 6% of gross domestic product this year and to 4.4% in 2012. GDP was 9.2% in 2010. In addition to Loterias, Spain will privatize its two largest airports, with the proceeds also going to pay down debt.

Government-controlled DP World on Wednesday said it expects to list its share on the London Stock Exchange June 1, in a bid to lift its international profile and boost liquidity. The Dubai-traded shares have gained about 30% in the past three months, as investors grew more confident it would benefit from increasing global container traffic and an improving world economy.

DP World isn't raising any new capital. It had planned to bring the listing last year but postponed it until 2011 to make sure technology would be in place to allow seamless trading of the shares in the two hubs.

Commodities giant Glencore International PLC (GLEN.LN) continued to dominate headlines this week, after having raised $10 billion last week in London and Hong Kong. Its shares were formally admitted to trade in London on Tuesday and Hong Kong on Wednesday, with both exchanges registering slides from the stock's pricing at 530 pence a week ago.

At 1400 GMT, Glencore shares were down slightly on the day, at 520 pence.

In Germany, Munich-based real estate company Prime Office said it will start marketing an IPO by mid-July. The company is expected to raise around EUR400 million in new and existing shares. It will convert to a real estate investment trust at the time of listing.

In secondary offerings, private equity group BC Partners on Thursday raised EUR215 million by selling a 28.1% stake in French nursing homes operator Medica SA (MDCA.FR), leaving with only about a 3% stake.

BC Partners took Medica public in February 2010 at EUR13 a share. It sold the shares Thursday at EUR16 apiece.

-By Margot Patrick, Dow Jones Newswires; +44 20 7842 9451; margot.patrick@dowjones.com

(Christopher Bjork in Madrid contributed to this article.)