Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 457.1b

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

Onix Solar Energy

Market Cap: ₹14.4b

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

Capricorn Group

Market Cap: R13.2b

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

Sopharma AD

Market Cap: €997.0m

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

Arab Banking Corporation (B.S.C.)

Market Cap: US$959.3m

Provides wholesale banking services worldwide.

Telekom Networks Malawi

Market Cap: MK 360.9b

Provides telecommunication services to enterprises and individual customers in Malawi.

ANSA Merchant Bank

Market Cap: TT$2.4b

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

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.

Bank of Africa Mali

Market Cap: XOF 113.1b

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

Standard Bank

Market Cap: MK 998.3b

Provides banking and other related services in Malawi.

Acsion

Market Cap: R3.6b

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

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.

Colorado

Market Cap: د.م1.4b

Manufactures and distributes various paints in Morocco and internationally.

Namibia Breweries

Market Cap: R6.2b

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 77.8b

Processes heavy bitumen crude in Africa.

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.

Sparta

Market Cap: €125.6m

A publicly owned investment manager.

Ruentex Interior Design

Market Cap: NT$3.5b

Engages in interior design and decoration, landscape design engineering, and construction businesses in Taiwan.

Canal Shipping Agencies

Market Cap: ج.م9.4b

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

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.

Chilanga Cement

Market Cap: K15.9b

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.

Empresas Lipigas

Market Cap: CL$915.6b

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.

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

Market Cap: ج.م25.1b

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.

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

Market Cap: ج.م22.1b

Provides various banking products and services in Egypt.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م31.2b

Produces and sells fertilizers.

Tchaikapharma High Quality Medicines AD

Market Cap: €863.1m

Develops, manufactures, and sells medicines in Bulgaria.

BAUER

Market Cap: €249.6m

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

Envirotainer

Market Cap: €398.1m

Develops, produces, and markets vacuum insulation panels and phase change materials in Germany, rest of European Union, and internationally.

Franklin Financial Services

Market Cap: US$227.2m

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.

Soma Gold

Market Cap: CA$229.0m

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

Oakworth Capital

Market Cap: US$188.2m

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

Affinity Bancshares

Market Cap: US$125.3m

Operates as the holding company for Affinity Bank that provides various banking products and services in Georgia.

Itafos

Market Cap: CA$595.2m

Operates as a phosphate and specialty fertilizer company.