Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Sparta

Market Cap: €100.5m

A publicly owned investment manager.

Senstar Technologies

Market Cap: US$114.6m

Provides physical, video, and access control security products and solutions worldwide.

Ruentex Interior Design

Market Cap: NT$3.5b

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

Freetrailer Group

Market Cap: €724.4m

Operates as a trailer rental company in Denmark, Sweden, Germany, and Norway.

Dwi Guna Laksana

Market Cap: Rp3.6t

Engages in the coal mining and trading activities in Indonesia.

Al Wathba National Insurance Company PJSC

Market Cap: د.إ703.8m

Engages in general insurance and reinsurance business in the United Arab Emirates and internationally.

Hospital Corporation of China

Market Cap: HK$817.6m

An investment holding company, owns, operates, and manages hospitals in the People’s Republic of China.

Sinopower Semiconductor

Market Cap: NT$4.0b

Engages in the research, design, manufacture, and sale of power semiconductor components and related modules in Taiwan and internationally.

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

Billion Industrial Holdings

Market Cap: HK$10.1b

Engages in manufacturing and sales of polyester filament yarns, polyester, polyester industrial yarns, and ES fiber products in the People’s Republic of China and internationally.

Telekom Networks Malawi

Market Cap: MK 366.2b

Provides telecommunication services to enterprises and individual customers in Malawi.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺34.7b

Gür-Sel Turizm Tasimacilik ve Servis Ticaret A.S.

Terminal X Online

Market Cap: ₪751.7m

Offers clothing, footwear, fashion accessories, cosmetics, and beauty products for men, women, and teenager under various brands through online.

C. Mer Industries

Market Cap: ₪387.6m

Provides solutions in the areas of homeland security (HLS), communication infrastructure, and defense technologies.

Sopharma AD

Market Cap: лв1.4b

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

MIA Teknoloji Anonim Sirketi

Market Cap: ₺19.2b

Provides software development services to public and private organizations in Turkey.

Mobiltel Iletisim Hizmetleri Sanayi ve Ticaret

Market Cap: ₺8.5b

Mobiltel Iletisim Hizmetleri Sanayi ve Ticaret A.S.

VNV Global

Market Cap: SEK 3.0b

VNV Global AB (publ) formerly known as Vostok New Ventures Ltd., is a private equity and venture capital firm specializing in growth capital, buyout investments, incubation, seed/startup, early venture, mid venture, late venture.

Namibia Breweries

Market Cap: R6.0b

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

Liburnia Riviera Hoteli d.d

Market Cap: €174.0m

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

Alantra Partners

Market Cap: €319.7m

Engages in the investment banking and asset management services in Spain and internationally.

First Investment Bank AD

Market Cap: лв772.3m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

GB Holdings

Market Cap: US$54.5m

Provides rubber and chemical products in Zimbabwe.

Standard Bank

Market Cap: MK 1.2t

Provides banking and other related services in Malawi.

Bank of Africa Mali

Market Cap: XOF 102.0b

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

va-Q-tec

Market Cap: €401.0m

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

Colorado

Market Cap: د.م1.4b

Manufactures and distributes various paints in Morocco and internationally.

Zespól Elektrocieplowni Wroclawskich KOGENERACJA

Market Cap: zł947.6m

Zespól Elektrocieplowni Wroclawskich KOGENERACJA S.A.

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.

Deutsche Balaton

Market Cap: €229.7m

A private equity focusing on private equity investments in listed and unlisted companies, real estate investments and investments in other assets.

Telematic Interactive Bulgaria EAD

Market Cap: лв268.9m

Offers online betting and gambling services.

Inmocemento

Market Cap: €1.6b

Through its subsidiaries, engages in the cement and real estate businesses in Spain and internationally.

Rimoni Industries

Market Cap: ₪420.2m

Engages in the design, engineering, and manufacture of molds, and precise injection molding and assemblies for the medical, automotive, agricultural, high-tech, and consumer industries in Israel.

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

Market Cap: ج.م18.0b

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.م22.4b

Provides various banking products and services in Egypt.