Triple Flag Precious Metals Corp on Wednesday became the latest private equity-backed venture to scrap a planned stock market launch, citing lackluster demand from investors in a year already dominated by several high-profile failures.

The Toronto-based mine financing company, backed by Elliott Management Corp, had aimed to raise C$360 million ($270.7 million) by selling 20 million shares at C$15 to C$18 each at a valuation of up to C$2.12 billion.

The company did not specify when or if it would revisit the deal, saying that it had been encouraged by investor interest but that the environment for share offerings "continues to be challenging." Several other potential stock market listings have been pushed back since the collapse of WeWork's planned launch in September and investment bankers are concerned that the trend may continue next year.

Some 44 companies have pulled their US IPO registrations in 2019 as of Dec. 3, up almost 50% on 2018 and the highest level since 2016, according to IPO research firm Renaissance Capital.

Triple Flag provides up-front financing to miners in exchange for a share of future revenue or production and the planned listing had been watched by investors as a bellwether in a sector that has struggled to attract new financing.