Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م30.6b

Produces and sells fertilizers.

Epsilon Energy

Market Cap: US$166.8m

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.

GB Holdings

Market Cap: US$55.0m

Produces rubber and chemical products in Zimbabwe.

Padma Oil

Market Cap: ৳17.6b

Engages in the procurement, storage, and marketing of petroleum products, lubricants, greases, bitumen, and LPG in Bangladesh.

First National Bank of Botswana

Market Cap: P14.4b

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

Southern Michigan Bancorp

Market Cap: US$118.8m

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.

Tchaikapharma High Quality Medicines AD

Market Cap: €872.7m

Develops, manufactures, and sells medicines in Bulgaria.

Sopharma AD

Market Cap: €893.4m

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

Oakworth Capital

Market Cap: US$187.1m

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

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.

Telekom Networks Malawi

Market Cap: MK 357.3b

Provides telecommunication services to enterprises and individual customers in Malawi.

Namibia Breweries

Market Cap: R6.3b

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

Freetrailer Group

Market Cap: €547.1m

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

ANSA Merchant Bank

Market Cap: TT$2.1b

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

Chilanga Cement

Market Cap: K16.0b

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

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.

Potasios de Chile

Market Cap: CL$821.4b

Engages in investment in shares and other financial instruments in Chile.

Union Bankshares

Market Cap: US$107.5m

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 104.5b

Processes heavy bitumen crude in Africa.

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

Acsion

Market Cap: R4.7b

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 650.4b

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

Ouro Fino Saúde Animal Participações

Market Cap: R$1.5b

Engages in the development, production, and sale of veterinary drugs, vaccines, and other products for production and companion animals primarily in Brazil.

New Mauritius Hotels

Market Cap: MU₨7.2b

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

Bank of Africa Mali

Market Cap: XOF 130.5b

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.م23.9b

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.

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

Market Cap: ج.م22.0b

Provides various banking products and services in Egypt.

Central Forest Group

Market Cap: JP¥22.7b

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

Procimmo Group

Market Cap: CHF 382.9m

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

Canal Shipping Agencies

Market Cap: ج.م8.3b

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

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.

Lion Capital

Market Cap: RON 2.4b

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.

Grendene

Market Cap: R$4.1b

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

Asian Terminals

Market Cap: ₱54.0b

Operates and manages the South Harbor Port of Manila and the Port of Batangas in Batangas City in the Philippines.

Alfin Banco

Market Cap: S/433.7m

Provides various banking and financial products and services.