TORONTO (Reuters) -Shares of Triple Flag Precious Metals Corp were unchanged in its trading debut on Thursday after the Canadian mine financing company raised more than $250 million in an initial public offering, the biggest Toronto Stock Exchange mining debut since 2012. Led by former Barrick Gold Corp executive Shaun Usmar, Triple Flag provides up-front financing to miners in exchange for a share of future revenue or production. It holds royalty interests in Alamos Gold Inc’s Young-Davidson mine in Ontario and Kirkland Lake Gold Ltd’s Fosterville underground mine in Australia. Triple Flag, backed by Elliott Management Corp, said proceeds would repay debt. The stock was last trading at C$15.60 compared with an offer price of $13.00. The offering led by Bank of America Securities, Credit Suisse Group and Bank of Nova Scotia included a $37.5 million over-allotment, making it the fifth-largest metals and mining IPO in Canadian history behind Pretium Resources and the biggest in nine years, according to Refinitiv. Triple Flag said in filings it has established an annual dividend of 19 cents per share, effective following completion of the offering. The company reported net income of $8.7 million on revenue of $35.4 million for the three months ended March 31. In July, Triple Flag agreed to pay $550 million to China Molybdenum Co Ltd (CMOC) for future production of precious metals at CMOC’s Northparkes mine in Australia. The company in December 2019 pulled a stock market launch citing difficult conditions for new listings. Reporting by Jeff Lewis; Editing by Kirsten Donovan and Marguerita Choy Our Standards: The Thomson Reuters Trust Principles.