Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Hua Na Hydropower

Market Cap: ₫5.2t

Engages in the investment, production, and trading of electricity in Vietnam.

TSTE

Market Cap: ฿4.2b

Primarily engages in the production and distribution of wheat flour in Thailand.

Shangri-La Hotel

Market Cap: ฿6.5b

Operates hotels in Bangkok and Chiang Mai provinces.

Joyce

Market Cap: AU$153.2m

Joyce Corporation Ltd retails kitchen and wardrobe products in Australia.

Transnational Corporation of Nigeria

Market Cap: ₦505.6b

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

Central Forest Group

Market Cap: JP¥22.2b

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 75.5b

Processes heavy bitumen crude in Africa.

Onix Solar Energy

Market Cap: ₹14.4b

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

Arab Banking Corporation (B.S.C.)

Market Cap: US$959.3m

Provides wholesale banking services worldwide.

Ruentex Interior Design

Market Cap: NT$3.5b

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

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.

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$927.8b

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

Canal Shipping Agencies

Market Cap: ج.م9.4b

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

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م31.2b

Produces and sells fertilizers.

Telekom Networks Malawi

Market Cap: MK 360.9b

Provides telecommunication services to enterprises and individual customers in Malawi.

Bank of Africa Mali

Market Cap: XOF 113.9b

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

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.

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

Market Cap: ج.م22.2b

Provides various banking products and services in Egypt.

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.م25.4b

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.

Colorado

Market Cap: د.م1.4b

Manufactures and distributes various paints in Morocco and internationally.

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.

Standard Bank

Market Cap: MK 998.3b

Provides banking and other related services in Malawi.

Compañía Electro Metalúrgica

Market Cap: CL$442.5b

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

ANSA Merchant Bank

Market Cap: TT$2.4b

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

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.

Sopharma AD

Market Cap: €1.0b

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

Acsion

Market Cap: R3.6b

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

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.

First Bancorp

Market Cap: US$304.8m

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

Freetrailer Group

Market Cap: €810.2m

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

A3 Mercados

Market Cap: AR$805.4b

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

Sound Financial Bancorp

Market Cap: US$112.1m

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