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Spain state lottery eyes listing around Oct 18

Source: Reuters - Wed 3rd Aug 2011

Spain's state-owned lottery company - Loterias y Apuestas del Estado - expects to make its stock market debut around Oct. 18, sources close to the deal said on Tuesday.

The prospectus for the listing of 30% of LAE is expected to be approved around the end of September, one of the sources said, adding that the listing will be between Oct. 18 and Oct. 20.

The LAE initial public offering is expected to raise at least 7 billion euros and rival Glencore as the biggest listing this year.

Even if markets remain tough this year, analysts said early elections in Spain will increase the pressure on the government to get the listing done before the country goes to the polls on Nov. 20.

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