Global Inefficient Market Opportunities

Inghams Group

Market Cap: AU$700.6m

Engages in the production and sale of chicken and turkey products under the Ingham’s brand primarily in Australia and New Zealand.

Grupo SBF

Market Cap: R$2.3b

Engages in the sale of sporting goods and leisure products in Brazil.

Caledonia Mining

Market Cap: US$441.3m

Primarily operates a gold mine in Jersey.

Tianli International Holdings

Market Cap: HK$3.4b

An investment holding company, provides education management and diversified services in China.

Fauji Cement

Market Cap: PK₨116.4b

Engages in the manufacturing and selling of various types of cement in Pakistan.

Man Industries (India)

Market Cap: ₹39.5b

Manufactures, processes, sells, and trades in submerged arc-welded pipes and steel products in India.

TOYO

Market Cap: US$412.3m

Engages in the upstream production of wafer and silicon, midstream production of solar cell, downstream production of photovoltaic (PV) modules, and other stages of the solar power supply chain in Asia and the United States.

Plano & Plano Desenvolvimento Imobiliário

Market Cap: R$2.1b

Through its subsidiaries develops, constructs, and sells real estate projects in the São Paulo Metropolitan Region.

H.G. Infra Engineering

Market Cap: ₹38.8b

Engages in the engineering, procurement, and construction (EPC) business in India.

PetroVietnam Transportation

Market Cap: ₫10.3t

Engages in maritime transportation services to the oil and gas industry in Vietnam and internationally.

JSL

Market Cap: R$2.0b

Provides logistics services in Brazil.

AutoCanada

Market Cap: CA$530.3m

Through its subsidiaries, operates franchised automobile dealerships and related business.

Cruzeiro do Sul Educacional

Market Cap: R$1.9b

Provides education services in Brazil.

HANDSOME

Market Cap: ₩570.2b

Manufactures and sells women’s apparel in Korea, China, and Europe.

Guangzhou Xiao Noodles Catering Management

Market Cap: HK$3.0b

Engages in the self-operated noodle restaurant and manages franchise operations in China and Hong Kong.

Ventura Offshore Holding

Market Cap: NOK 3.5b

A deep-water drilling contractor, provides offshore drilling services to the oil and gas industry in Brazil and internationally.

Autosports Group

Market Cap: AU$515.5m

Engages in the motor vehicle retailing business in Australia and New Zealand.

China Aircraft Leasing Group Holdings

Market Cap: HK$2.9b

An investment holding company, provides aircraft leasing services to airline companies in Mainland China and internationally.

Haverty Furniture Companies

Market Cap: US$362.3m

Operates as a specialty retailer of residential furniture and accessories in the United States.

Inspur Digital Enterprise Technology

Market Cap: HK$2.8b

An investment holding company, engages in management software development, cloud services, and sale of Internet of Things (IoT) solutions in the People’s Republic of China.

Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi

Market Cap: ₺15.5b

Operates in the construction chemicals sector in Turkey and internationally.

Sylvania Platinum

Market Cap: UK£250.5m

Engages in the retreatment of platinum group metals (PGM) bearing chrome tailings materials in South Africa.

Lippo Karawaci

Market Cap: Rp5.8t

Engages in real estate development, healthcare and lifestyle businesses in Indonesia.

STEICO

Market Cap: €285.9m

Develops, produces, and markets ecological construction products made of renewable raw materials in Germany, Austria, Switzerland, Lichtenstein, France, Belgium, Netherlands, Luxemburg, South European countries, and internationally.

Elnusa

Market Cap: Rp5.8t

Provides oil and gas services in Indonesia.

Aeris Resources

Market Cap: AU$460.9m

Explores, produces, and sells precious metals in Australia.

Next 15 Group

Market Cap: UK£241.2m

Next 15 Group plc, together with its subsidiaries, customer insight, customer delivery, customer engagement, and business transformation services in the United Kingdom, Africa, the United States, Europe, Middle East, and Africa.

Loadstar Capital K.K

Market Cap: JP¥50.9b

Engages in the real estate investment business in Japan.

SIGA Technologies

Market Cap: US$323.1m

A commercial-stage pharmaceutical company, focuses on the health security market in the United States.

Village Farms International

Market Cap: US$322.3m

Produces, markets, and distributes greenhouse grown tomatoes, bell peppers, and cucumbers in North America.

Bonduelle

Market Cap: €274.6m

Engages in the provision of plant-based food in Europe and internationally.

ACCO Brands

Market Cap: US$310.9m

Designs, manufactures, and markets consumer, school, technology, and office products in the United States, Canada, Brazil, Mexico, Chile, Europe, the Middle East, Australia, New Zealand, and Asia.

Hua Yu Lien Development

Market Cap: NT$9.7b

Engages in the real estate business in Taiwan.

PC1 Group

Market Cap: ₫8.0t

Engages in the construction, industrial production, real estate, energy, trading, exploitation and operation of industrial zone, mining, and other businesses in Vietnam.

29Metals

Market Cap: AU$420.0m

Operates as a copper-focused base and precious metals mining company in Australia and Chile.

Maple Leaf Cement Factory

Market Cap: PK₨83.4b

Produces and sells cement in Pakistan, Afghanistan, Maldives, Qatar, Sri Lanka, South Africa, Yemen, and Tanzania.