Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

MOBI Industry

Market Cap: ر.س544.5m

Manufactures and sells fertilizers and nitrogen compounds in the Kingdom of Saudi Arabia.

Tohoku Steel

Market Cap: JP¥16.7b

Manufactures, processes, and distributes various types of special steel products in Japan.

Gulf Insurance Group - Jordan

Market Cap: د.أ81.4m

Engages in the insurance business in Jordan, the Middle East, North Africa, Europe, Asia, America, and the Near East.

Onix Solar Energy

Market Cap: ₹18.0b

Engages in the trading of non-ferrous metals in India.

Empresas Lipigas

Market Cap: CL$957.8b

Engages in the distribution and sale of liquefied petroleum gas (LPG), natural gas (NG), and liquefied natural gas (LNG) in Chile, Peru, and Colombia.

GB Holdings

Market Cap: US$55.0m

Produces rubber and chemical products in Zimbabwe.

Pure Cycle

Market Cap: US$242.8m

Provides water and wastewater services in the United States.

BAUER

Market Cap: €258.2m

Provides services, equipment, and products related to ground and groundwater in Germany, Europe, the Middle East, the Asia Pacific, the Americas., and Africa.

Namibia Breweries

Market Cap: R6.3b

Engages in brewing and distribution of alcoholic beverages, and manufacture of soft drinks in Namibia and South Africa.

Lion Capital

Market Cap: RON 2.3b

SIF Banat-Crisana is a self-managed closed-end investment company and since March 2018, it is authorized by ASF as alternative investment fund manager.

Kingstone Companies

Market Cap: US$218.3m

Through its subsidiary, Kingstone Insurance Company ("KICO"), provides property and casualty insurance products in the United States.

Epsilon Energy

Market Cap: US$163.8m

A North American onshore independent natural gas and oil company, engages in the acquisition, exploration, development, gathering, and production of natural oil and gas reserves.

Sociedad Matriz SAAM

Market Cap: CL$1.3t

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

Winchester Bancorp

Market Cap: US$119.6m

Operates as a bank holding company for Winchester Savings Bank that provides banking products and services in the United States.

Aeroporto Guglielmo Marconi di Bologna

Market Cap: €382.9m

Develops, manages, and maintains an airport in Italy and internationally.

New Mauritius Hotels

Market Cap: MU₨7.2b

Operates hotels in Mauritius, Europe, Morocco, and internationally.

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 104.5b

Processes heavy bitumen crude in Africa.

Transnational

Market Cap: ₦492.9b

Together with the subsidiaries, engages in the power, oil and gas, and hospitality businesses in Nigeria.

Master Drilling Group

Market Cap: R2.6b

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.

FRoSTA

Market Cap: €658.1m

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

Canal Shipping Agencies

Market Cap: ج.م8.8b

Provides various shipping services to the international commercial fleet in Egypt.

Vivo Energy Mauritius

Market Cap: MU₨13.1b

Vivo Energy Mauritius Limited markets, supplies, and distributes fuels and lubricants to retail and commercial customers in Mauritius.

Sopharma AD

Market Cap: €919.1m

Produces, distributes, and exports pharmaceutical products in Europe, Bulgaria, and internationally.

A3 Mercados

Market Cap: AR$693.8b

Operates as a market for negotiable securities in Argentina and internationally.

First Northern Community Bancorp

Market Cap: US$229.1m

Operates as the bank holding company for First Northern Bank of Dixon that provides commercial banking products and services to individuals, and small and medium sized businesses.

Sound Financial Bancorp

Market Cap: US$105.7m

Operates as the bank holding company for Sound Community Bank that provides banking and other financial services for consumers and businesses.

Union Bankshares

Market Cap: US$107.9m

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

Procimmo Group

Market Cap: CHF 378.4m

A holding company, engages in the investment, management, and sale of real estate properties in Switzerland.

Telekom Networks Malawi

Market Cap: MK 357.2b

Provides telecommunication services to enterprises and individual customers in Malawi.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م31.1b

Produces and sells fertilizers.

Nigerian Aviation Handling

Market Cap: ₦319.5b

Provides aircraft and cargo handling, passenger handling, passenger profiling, and crew transportation services in Nigeria.

Guardian Capital Group

Market Cap: CA$1.6b

Through its subsidiaries, primarily engages in the provision of investment services in Canada, the United States, the United Kingdom, and internationally.

Bank of Africa Mali

Market Cap: XOF 129.2b

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

Suez Canal Company for Technology Settling (S.A.E)

Market Cap: ج.م24.8b

Engages in the establishment and management of technology zones, scientific incubators, and training centers for the preparation of researchers, transfer technology, and related services in Egypt.