Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 73.3b

Processes heavy bitumen crude in Africa.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م31.3b

Produces and sells fertilizers.

Colorado

Market Cap: د.م1.4b

Manufactures and distributes various paints in Morocco and internationally.

Chilanga Cement

Market Cap: K16.0b

Engages in the manufacture and sale of cement products in Zambia.

Transcorp Power

Market Cap: ₦2.3t

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

Sopharma AD

Market Cap: €1.0b

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

Nigerian Aviation Handling

Market Cap: ₦214.4b

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

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.

Maistra d.d

Market Cap: €645.7m

Engages in the hotel business in Croatia.

Central Forest Group

Market Cap: JP¥22.1b

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

Nofoth Food Products

Market Cap: ر.س932.7m

Produces and sells bakery products in Saudi Arabia.

ANSA Merchant Bank

Market Cap: TT$2.4b

Provides a range of banking and financial services in Trinidad and Tobago, and Barbados.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 482.3b

Engages in the manufacture and sale of beer, soft drinks, mineral water, alcomixes, and energy drink products.

Tchaikapharma High Quality Medicines AD

Market Cap: €872.7m

Develops, manufactures, and sells medicines in Bulgaria.

FRoSTA

Market Cap: €605.0m

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

Canal Shipping Agencies

Market Cap: ج.م9.4b

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

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

Market Cap: ج.م25.5b

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

GB Holdings

Market Cap: US$55.0m

Produces rubber and chemical products in Zimbabwe.

Bank of Africa Mali

Market Cap: XOF 113.9b

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

First National Bank of Botswana

Market Cap: P13.9b

Provides various banking and related products and services to individuals, and large and small businesses in Botswana.

Chobe Holdings

Market Cap: P1.7b

Through its subsidiaries, engages in owning and operating ecotourism lodges and camps on leased lands in northern Botswana and the Caprivi Strip in Namibia.

Sparta

Market Cap: €125.6m

A publicly owned investment manager.

Liburnia Riviera Hoteli d.d

Market Cap: €151.3m

Provides accommodation and hospitality services in Croatia, Germany, Austria, Italy, Hungary, Slovenia, Ukraine, Czech, other European countries, and internationally.

Telekom Networks Malawi

Market Cap: MK 361.0b

Provides telecommunication services to enterprises and individual customers in Malawi.

Procimmo Group

Market Cap: CHF 360.4m

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

A3 Mercados

Market Cap: AR$806.6b

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

Standard Bank

Market Cap: MK 998.4b

Provides banking and other related services in Malawi.

Export Development Bank of Egypt (S.A.E.)

Market Cap: ج.م21.3b

Provides various banking products and services in Egypt.

Empresas Lipigas

Market Cap: CL$939.3b

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

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.

Soma Gold

Market Cap: CA$216.0m

A natural resource company, engages in the acquisition, exploration, and development of mineral properties in Columbia.

ASA Gold and Precious Metals

Market Cap: US$1.2b

A publicly owned investment manager.

Itafos

Market Cap: CA$606.8m

Operates as a phosphate and specialty fertilizer company.

Freetrailer Group

Market Cap: €815.9m

A technology company, operates a sharing-economy platform for the free rental of trailers and cargo bikes in Denmark, Sweden, Germany, and the Netherlands.

Franklin Financial Services

Market Cap: US$238.1m

Operates as the bank holding company for Farmers and Merchants Trust Company of Chambersburg that provides commercial, retail banking, and trust services to businesses, individuals, governmental entities in Pennsylvania.