December 11, 2019 / 2:17 PM / 4 months ago

Canada's Triple Flag Precious Metals pulls IPO

Dec 11 (Reuters) - Canadian royalty and streaming company Triple Flag Precious Metals Corp on Wednesday pulled a planned initial public offering, citing a difficult market environment for new share offerings.

Toronto-based Triple Flag, backed by hedge fund Elliot Management Corp, had said it expected to price at C$15 to C$18 per share, and raise up to C$360 million.

The company, led by a former Barrick Gold executive, provides up-front financing to miners in exchange for future revenue or a share of production. (Reporting by Jeff Lewis; editing by Jonathan Oatis)

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