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Norway's Next Biometrics Group to File for Bankruptcy; Oslo Trading Suspended

MT Newswires·10/09/2026 06:32:31
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06:32 AM EDT, 10/09/2026 (MT Newswires) -- Next Biometrics Group (NEXT.OL) plans to file for bankruptcy on Oct. 12 after failing to secure funds to continue operations, according to a Friday release. The Norwegian fingerprint sensor technology company said its larger shareholders were unable to provide financial support through year-end given the uncertainty surrounding the outcome of an ongoing research and development project. Additionally, it has not concluded the process of selling its remaining fingerprint sensor inventory and other assets after signing nonbinding letters of intent. Next Biometrics Group's board and management will keep reviewing alternatives until the bankruptcy petition is filed. Following the announcement, the Oslo bourse said in a separate filing that trading in the company's shares was suspended.