Global Undervalued Small Caps

Viva Wine Group

Market Cap: SEK 2.5b

Develops, markets, imports, and sells wines.

Betterware de MéxicoP.I. de

Market Cap: US$665.2m

Operates as a direct-to-consumer selling company in the United States and Mexico.

ProCredit Holding

Market Cap: €483.6m

Provides commercial banking products and services for small and medium enterprises and private clients in Europe, South America, and Germany.

CellaVision

Market Cap: SEK 3.2b

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

FRP Advisory Group

Market Cap: UK£274.2m

Provides business advisory services to companies, lenders, investors, individuals, and other stakeholders in the United Kingdom.

Calfrac Well Services

Market Cap: CA$652.7m

Provides specialized oilfield services in Canada, the United States, and Argentina.

Pharma Mar

Market Cap: €1.3b

A biopharmaceutical company, focuses on the research, development, production, and commercialization of bio-active principles for the use in oncology in Spain, Germany, Ireland, France, Switzerland, rest of the European Union, the United States, and internationally.

Grupa Pracuj

Market Cap: zł3.0b

Operates HR technology platform in Poland, Ukraine, and Germany.

Security Bank

Market Cap: ₱49.2b

Provides banking and financial products and services to wholesale and retail clients in the Philippines.

Embla Medical hf

Market Cap: DKK 11.3b

Provides non-invasive orthopedic products in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

Aurelia Metals

Market Cap: AU$465.7m

Engages in the exploration and production of mineral properties in Australia.

Trisul

Market Cap: R$1.0b

Engages in the construction and development of real estate properties in Brazil.

Iochpe-Maxion

Market Cap: R$1.4b

Produces and sells automotive wheels and structural components in Brazil, North America, South America, Europe, the Middle East, Africa, Asia, and internationally.

SILICON2

Market Cap: ₩2.0t

Engages in the distribution of cosmetics products worldwide.

Guangdong Mingyang ElectricLtd

Market Cap: CN¥11.0b

Engages in the research, development, production, and sale of high/low voltage switchgear, transformer, and power transmission and distribution equipment in China.

Chongqing Baiya Sanitary Products

Market Cap: CN¥5.9b

Chongqing Baiya Sanitary Products Co., Ltd.

Lavvi Empreendimentos Imobiliários

Market Cap: R$2.3b

Develops and builds residential and non-residential properties primarily in Brazil.

Assetwise

Market Cap: ฿6.1b

Engages in property development and other real estate activities in Thailand.

McBride

Market Cap: UK£264.0m

Manufactures and sells private label household and personal care products to retailers and brand owners in the United Kingdom, Germany, France, Italy, Spain, rest of Europe, the Asia-Pacific, and internationally.

Nagarro

Market Cap: €500.5m

Provides digital product engineering and technology solutions in Germany, the United States, Europe, and internationally.

Palfinger

Market Cap: €1.2b

Provides hydraulic lifting solutions in Austria and internationally.

Parex Resources

Market Cap: CA$2.1b

Engages in the exploration, development, production, and marketing of oil and natural gas in Colombia.

Grupo SBF

Market Cap: R$2.3b

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

Village Farms International

Market Cap: US$216.0m

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

Martinrea International

Market Cap: CA$698.0m

Engages in the design, development, manufacture, and sale of engineered, value-added lightweight structures, and propulsion systems for the automotive sector in North America, Europe, and internationally.

Consun Pharmaceutical Group

Market Cap: HK$10.5b

Produces and sells pharmaceutical products in Mainland China.

VSTECS Holdings

Market Cap: HK$12.6b

An investment holding company, develops information technology IT product channel and provides technical solution integration services in North Asia and Southeast Asia.

BRC Asia

Market Cap: S$1.2b

Engages in the prefabrication of steel reinforcement for use in concrete in Singapore, Australia, Brunei, Hong Kong, Indonesia, Malaysia, Thailand, India, and internationally.

United Electronics

Market Cap: ر.س5.4b

Engages in the wholesale and retail trade of electric appliances, electronic gadgets, computers and their spare parts and accessories, furniture, and office equipment and tools in the Kingdom of Saudi Arabia and internationally.

Foresight Group Holdings

Market Cap: UK£457.8m

Operates as an infrastructure and private equity manager in the United Kingdom, Italy, Luxembourg, Ireland, Spain, and Australia.

SDI Group

Market Cap: UK£91.6m

Designs and manufactures scientific and technology products based on digital imaging and sensing and control applications worldwide.

Murapol

Market Cap: zł1.6b

Engages in residential real estate development buisness in Poland.

Hugel

Market Cap: ₩2.7t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

Capacit'e Infraprojects

Market Cap: ₹22.3b

Engages in the engineering, procurement, and construction business in India.

Mahindra Logistics

Market Cap: ₹36.5b

Provides integrated logistics solutions in India and internationally.

Nolato

Market Cap: SEK 13.1b

Develops, manufactures, and sells plastic, silicone, and thermoplastic elastomer products in Europe, Asia, North America, and internationally.