Swedish Undervalued Small Caps

Systemair

Market Cap: SEK 15.9b

Manufactures and sells of ventilation, heating and cooling products, and systems in Europe, North America, the Middle East, Asia, Australia, and Africa.

CellaVision

Market Cap: SEK 4.3b

Develops and sells instruments, software, and reagents for blood and body fluids analysis in Sweden and internationally.

NOTE

Market Cap: SEK 5.0b

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

Ework Group

Market Cap: SEK 1.8b

Engages in the provision of total talent solutions for IT/OT, research and development, engineering, and business development in Sweden, Norway, Finland, Germany, Denmark, Poland, and Slovakia.

Arise

Market Cap: SEK 1.3b

Operates in the renewable energy sector.

Truecaller

Market Cap: SEK 13.2b

Develops and publishes mobile caller ID applications for individuals and business in India, the Middle East, Africa, and internationally.

AcadeMedia

Market Cap: SEK 10.0b

Operates as an independent education provider in Sweden, Norway, the Netherlands, and Germany.

ITAB Shop Concept

Market Cap: SEK 4.4b

Develops, manufactures, sells, and installs store concepts for retail chain stores.

New Wave Group

Market Cap: SEK 15.2b

Designs, acquires, and develops brands and products in the corporate, sports, gifts, and home furnishings sectors in Sweden, the United States, Central Europe, rest of Nordiac countries, Southern Europe, and internationally.

Green Landscaping Group

Market Cap: SEK 2.7b

Engages in the green space management and landscaping business in Sweden, Norway, and rest of Europe.

VBG Group

Market Cap: SEK 7.9b

Develops, manufactures, markets, and sells various industrial products in Sweden, Germany, rest of the Nordic countries and Europe, the United States, rest of North America, Brazil, Australia, New Zealand, China, and internationally.

Svedbergs Group

Market Cap: SEK 2.9b

Develops, manufactures, and markets bathroom products in the Nordic region, the United Kingdom, and the Netherlands.

CoinShares International

Market Cap: SEK 9.2b

Engages in the creating financial products with digital assets and blockchain technology business in Jersey.

Synsam

Market Cap: SEK 8.5b

Operates in the optical retail and eye health sector in the Nordic Region.

Alligo

Market Cap: SEK 5.4b

Engages in the provision of workwear, personal protective equipment, tools, and consumables in Finland, Sweden, and Norway.

C-Rad

Market Cap: SEK 1.1b

Develops, manufactures, and sells products and systems with applications in radiotherapy for the treatment of cancer in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Byggmax Group

Market Cap: SEK 3.3b

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

RVRC Holding

Market Cap: SEK 5.8b

Engages in the e-commerce outdoor clothing business in Germany, Sweden, and internationally.

Zinzino

Market Cap: SEK 4.4b

A direct sales company, provides dietary supplements and skincare products in Sweden and internationally.

Catella

Market Cap: SEK 2.6b

A real estate investment firm.

Scandi Standard

Market Cap: SEK 5.8b

Produces and sells chilled, frozen, and ready-to-eat chicken products in Sweden, Norway, Ireland, Denmark, Finland, Germany, the United Kingdom, rest of Europe, and internationally.

Storytel

Market Cap: SEK 5.8b

Provides audiobooks and e-books streaming services.

Rusta

Market Cap: SEK 9.6b

Engages in the retail of products in home decoration, consumables, seasonal products, leisure, and Do It Yourself (DIY) categories in Sweden, Norway, Finland, and Germany.

Gränges

Market Cap: SEK 12.8b

Engages in the development, production, and distribution of rolled aluminum products for thermal management systems, specialty packaging, and niche applications in Asia Pacific, Europe, and North and South Americas.

Surgical Science Sweden

Market Cap: SEK 4.3b

Develops and markets virtual reality simulators for evidence-based medical training in Europe, North and South America, Asia, and internationally.

Beijer Alma

Market Cap: SEK 14.8b

Engages in component manufacturing and industrial trading businesses in Sweden, rest of Nordic Region, rest of Europe, North America, Asia, and internationally.

Xvivo Perfusion

Market Cap: SEK 5.3b

A medical technology company, develops and markets machines and perfusion solutions for assessing usable organs and maintains in optimal condition pending transplantation in Sweden.

Lime Technologies

Market Cap: SEK 4.0b

Provides software as a service (SaaS) based customer relationship management (CRM) solutions in the Nordic region.

Paxman

Market Cap: SEK 1.6b

Develops and sells Paxman scalp cooling system to minimize hair loss in connection with chemotherapy treatment worldwide.