Global Undervalued Small Caps

Gujarat Pipavav Port

Market Cap: ₹73.4b

Engages in the construction, operation, and maintenance of port at Pipavav in Gujarat, India.

Mega Lifesciences

Market Cap: ฿29.6b

Manufactures and sells health food supplements, prescription pharmaceutical products, over-the-counter products, herbal products, vitamins, and fast-moving consumer goods.

China Beststudy Education Group

Market Cap: HK$2.4b

Provides after-school education services for K-12 student groups in China.

Elders

Market Cap: AU$1.4b

Engages in the provision of agricultural products and services to rural and regional customers primarily in Australia.

Domino's Pizza Enterprises

Market Cap: AU$1.8b

Operates retail food outlets.

Knowmerce

Market Cap: ₩203.2b

Provides entertainment services through artist intellectual property rights in South Korea.

Pulike Biological Engineering

Market Cap: CN¥4.7b

Engages in the research, development, production, and sale of veterinary biological products, chemical drugs, and traditional Chinese veterinary drugs.

Atea

Market Cap: NOK 15.8b

Provides IT infrastructure and related solutions for businesses and public sector organizations in the Nordic countries and Baltic regions.

Volati

Market Cap: SEK 6.3b

A private equity firm specializing in growth capital, buyouts, add on acquisitions in mature and middle market companies.

ChoiceOne Financial Services

Market Cap: US$408.3m

Operates as the bank holding company for ChoiceOne Bank that provides various banking services in the Michigan.

Upwork

Market Cap: US$1.6b

Provides platforms and workforce solutions that connect businesses with freelance, agency, fractional, and payrolled talent in the United States, the Philippines, India, Pakistan, and internationally.

NOTE

Market Cap: SEK 5.3b

Provides electronics manufacturing services in Sweden, Finland, the United Kingdom, Bulgaria, Estonia, China, and internationally.

Byggmax Group

Market Cap: SEK 3.4b

Sells building materials and related products for DIY projects in Sweden, Norway, and internationally.

Vossloh

Market Cap: €1.3b

Provides rail infrastructure products and services in Germany and internationally.

Orascom Development EgyptE

Market Cap: ج.م29.0b

Engages in developing buildings and integrated communities in Egypt.

Shandong Golden Empire Precision Machinery Technology

Market Cap: CN¥5.5b

Shandong Golden Empire Precision Machinery Technology Co., Ltd.

Fonix

Market Cap: UK£150.1m

Provides mobile payments and messaging, and managed services for media, charity, gaming, e-mobility, and other digital service businesses in the United Kingdom and the rest of Europe.

Sun Country Airlines Holdings

Market Cap: US$830.7m

An air carrier company, operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally.

Ddev Plastiks Industries

Market Cap: ₹26.3b

Manufactures and sells customised plastic compounds in India and internationally.

Pacific Lime and Cement

Market Cap: AU$230.2m

An investment holding company, engages in the exploration and evaluation of mineral resources.

UMS Integration

Market Cap: S$1.4b

An investment holding company, manufactures and markets precision machining components, and provides electromechanical assembly and final testing services.

Societe Tunisienne de Verreries

Market Cap: د.ت661.0m

Engages in the manufacture and marketing of glass and ancillary products in Tunisia and internationally.

Gushengtang Holdings

Market Cap: HK$6.0b

An investment holding company, provides healthcare services in the People’s Republic of China.

SBO

Market Cap: €568.1m

Manufactures and sells steel products worldwide.

Service Stream

Market Cap: AU$1.2b

Engages in the design, construction, operation, and maintenance of infrastructure networks across the telecommunications, utilities, and transport sectors in Australia.

Raya Holding Company for Financial Investments (S.A.E)

Market Cap: ج.م23.5b

Operates in information technology, data center outsourcing, contact center, smart buildings, consumer electronics, food and beverage, land transport, E-payments, and non-banking financial services fields in Egypt and internationally.

S.P. Apparels

Market Cap: ₹17.5b

Manufactures and exports knitted garments for infants and children in India and internationally.

Solum

Market Cap: ₩848.7b

Manufactures and markets power modules, digital tuners, and electronic shelf labels to customers in South Korea and internationally.

JF SmartInvest Holdings

Market Cap: HK$15.2b

An investment holding company, through its subsidiaries, provides online investment decision-making solution services in the People’s Republic of China.

Da-Li DevelopmentLtd

Market Cap: NT$21.7b

Engages in the construction business in Taiwan and the United States.

Restar

Market Cap: JP¥79.9b

Engages in the sale of semiconductors, electronic components, image sensors, cameras, peripheral equipment, and related products in Japan, China, South Korea, Vietnam, Taiwan, and internationally.

JAC Recruitment

Market Cap: JP¥137.3b

Provides recruitment consultancy services in Japan.

Zhejiang Natural Outdoor Goods

Market Cap: CN¥3.4b

Engages in the research, design, development, production, and sale of outdoor sports products in China and internationally.

Wee Hur Holdings

Market Cap: S$620.5m

An investment holding company, engages in general building and civil engineering construction business in Singapore, Hong Kong, and Australia.

Ever Glory United Holdings

Market Cap: S$288.1m

An investment holding company, provides mechanical and electrical engineering services for public and private sectors in Singapore.

China State Construction Development Holdings

Market Cap: HK$2.2b

An investment holding company, engages in the general contracting business in Hong Kong and internationally.