Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Transcorp Power

Market Cap: ₦2.3t

Engages in the generation and sale of electric power in Nigeria and internationally.

GB Holdings

Market Cap: US$55.0m

Produces rubber and chemical products in Zimbabwe.

Bosch Fren Sistemleri Sanayi ve Ticaret

Market Cap: ₺19.6b

Bosch Fren Sistemleri Sanayi ve Ticaret A.S.

Acsion

Market Cap: R3.6b

Engages in property holding and development activities in South Africa and internationally.

Evergent Investments

Market Cap: RON 2.4b

A publicly owned investment manager.

Cyprus Cement

Market Cap: €175.6m

Engages in the manufacturing and sale of cement and related business in Cyprus.

Master Drilling Group

Market Cap: R2.3b

An investment holding company, provides specialized drilling services to blue chip major and mid-tier companies in the mining, civil engineering, construction, and hydroelectric power sectors.

VNV Global

Market Cap: SEK 2.8b

VNV Global AB (publ) formerly known as Vostok New Ventures Ltd., is a private equity and venture capital firm specializing in growth capital, buyout investments, incubation, seed/startup, early venture, mid venture, late venture.

Alumil Aluminium Industry

Market Cap: €161.1m

Engages in the design and production of architectural aluminum systems in Greece and internationally.

MCH Group

Market Cap: CHF 95.8m

Operates as a live marketing company that provides a network of services in the exhibition and event market worldwide.

Itafos

Market Cap: CA$572.0m

Operates as a phosphate and specialty fertilizer company.

Inversiones Doalca SOCIMI

Market Cap: €156.6m

Inversiones Doalca Socimi, S.A., a real estate investment company, leases and rents real estate properties in Spain.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 74.1b

Processes heavy bitumen crude in Africa.

Central Forest Group

Market Cap: JP¥21.7b

Engages in the wholesale of food, alcoholic beverages, and other related consumer products in Japan.

Union Bankshares

Market Cap: US$105.4m

Operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking products and services in the United States.

FRoSTA

Market Cap: €633.6m

Develops, produces, and markets frozen food products in Germany, Poland, Austria, Italy, and Eastern Europe.

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E)

Market Cap: Mex$25.0b

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E) was founded in 2018 and is based in Mexico.

Telekom Networks Malawi

Market Cap: MK 363.4b

Provides telecommunication services to enterprises and individual customers in Malawi.

Oakworth Capital

Market Cap: US$178.4m

Operates as a bank holding company for Oakworth Capital Bank that provides range of banking services in the United States.

Metalpha Technology Holding

Market Cap: US$111.0m

Provides wealth management services in Hong Kong.

Bank of Africa Mali

Market Cap: XOF 115.2b

Provides various banking products and services to individuals, business customers, and SMEs in Mali.

Saha-Union

Market Cap: ฿8.1b

Engages in plastic, rubber and metal, chemicals, trading, energy, hotel, investment, and other businesses.

Shangri-La Hotel

Market Cap: ฿5.5b

Operates hotels in Bangkok and Chiang Mai provinces.

Famous Brands

Market Cap: R5.6b

Through its subsidiaries, operates as a quick service and casual dining restaurant franchisor in the United Kingdom, South Africa, South African Development Community, the Middle East, and Rest of Africa.

Sociedad Matriz SAAM

Market Cap: CL$1.4t

Through its subsidiaries, provides tugboat services, air cargo logistics, and real estate rentals in South America, Central America, and North America.

Sönmez Filament Sentetik Iplik ve Elyaf Sanayi

Market Cap: ₺10.3b

Sönmez Filament Sentetik Iplik ve Elyaf Sanayi A.S.

GTS Internasional

Market Cap: Rp3.7t

PT GTS Internasional Tbk, together with its subsidiaries, transports liquefied natural gas worldwide.

Dekpol

Market Cap: zł675.7m

Dekpol S.A. primary engages in the general contracting and steel structures and equipment businesses in Poland.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺33.5b

Gür-Sel Turizm Tasimacilik ve Servis Ticaret A.S.

First Investment Bank AD

Market Cap: лв745.4m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

Inmocemento

Market Cap: €1.6b

Through its subsidiaries, engages in the cement and real estate businesses in Spain and internationally.

Grenobloise d'Electronique et d'Automatismes Société Anonyme

Market Cap: €86.8m

Provides electronic toll collection systems in France, rest of the European Union, rest of Europe, Asia, the Americas, and Africa.

Central Cooperative Bank AD

Market Cap: лв226.3m

A commercial bank, provides various financial products and services.

Marmaris Altinyunus Turistik Tesisler

Market Cap: ₺7.2b

Marmaris Altinyunus Turistik Tesisler A.S.

Mackolik Internet Hizmetleri Ticaret

Market Cap: ₺4.3b

Mackolik Internet Hizmetleri Ticaret A.S.