Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Intellego Technologies

Market Cap: SEK 1.6b

Manufactures and sells ultraviolet indicators in Sweden, the United Kingdom, the United States, Europe, China, and internationally.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 585.0b

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

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.

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.

GB Holdings

Market Cap: US$54.7m

Produces rubber and chemical products in Zimbabwe.

New Mauritius Hotels

Market Cap: MU₨7.7b

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

Sun

Market Cap: MU₨7.6b

Operates in the tourism sector.

Telekom Networks Malawi

Market Cap: MK 359.2b

Provides telecommunication services to enterprises and individual customers in Malawi.

Compañía Electro Metalúrgica

Market Cap: CL$560.6b

Operates as producers and vendors of integrated solutions for the mining market in Chile and internationally.

Sopharma AD

Market Cap: €976.2m

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

Bank of Africa Mali

Market Cap: XOF 122.4b

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

Standard Bank

Market Cap: MK 996.1b

Provides banking and other related services in Malawi.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م29.9b

Produces and sells fertilizers.

Lion Capital

Market Cap: RON 2.7b

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.

Procimmo Group

Market Cap: CHF 378.4m

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

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

Market Cap: ج.م22.4b

Provides various banking products and services in Egypt.

Chilanga Cement

Market Cap: K16.2b

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

Capricorn Group

Market Cap: R13.3b

An investment holding company, engages in the banking, microlending, and related businesses in Namibia, Botswana, and Zambia.

Oakworth Capital

Market Cap: US$194.8m

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

Sound Financial Bancorp

Market Cap: US$111.1m

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

Kingstone Companies

Market Cap: US$224.9m

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

Epsilon Energy

Market Cap: US$149.2m

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.

Cashmere Valley Bank

Market Cap: US$257.8m

A state chartered bank, provides banking products and services to small and middle-market businesses, and retail customers.

Freetrailer Group

Market Cap: €705.3m

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

Sparta

Market Cap: €138.2m

A publicly owned investment manager.

Grendene

Market Cap: R$4.4b

Engages in the development, production, distribution, and sale of plastic footwear for women, men, and children in Brazil and internationally.

First Bancorp

Market Cap: US$323.1m

Operates as the bank holding company for First National Bank that provides a range of banking products and services to individual and corporate customers.

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.

Union Bankshares

Market Cap: US$112.9m

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

Southern Michigan Bancorp

Market Cap: US$119.0m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest and south-central Michigan communities.

Winchester Bancorp

Market Cap: US$121.8m

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

A3 Mercados

Market Cap: AR$729.4b

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

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.

BAUER

Market Cap: €273.3m

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

Franklin Financial Services

Market Cap: US$228.3m

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.