Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Namibia Breweries

Market Cap: R6.6b

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

TSTE

Market Cap: ฿4.1b

Primarily engages in the production and distribution of food, ingredients, and confectionery products in Thailand.

Padma Oil

Market Cap: ৳17.2b

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

Jamuna Bank

Market Cap: ৳21.6b

Provides various banking products and services in Bangladesh.

Yibin City Commercial Bank

Market Cap: HK$12.1b

Provides banking and financial products and services to small and micro enterprises in the People’s Republic of China.

Jordanian Duty Free Shops

Market Cap: د.أ142.9m

Invests in, operates, and manages duty-free shops.

Nigerian Aviation Handling

Market Cap: ₦428.8b

Provides aircraft and cargo handling, passenger handling, passenger profiling, and crew transportation services in Nigeria.

GROUPE SFPI

Market Cap: €176.1m

Designs, manufactures, and markets equipment for the safety industry in Europe and internationally.

Vincorion

Market Cap: €884.0m

Develops and manufactures power and mechatronic solutions for defense platforms and aviation systems in Germany and internationally.

Marvipol Development

Market Cap: zł454.0m

Develops residential projects in Poland.

Sopharma AD

Market Cap: €903.9m

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

Steppe Gold

Market Cap: CA$371.7m

Engages in operating, developing, exploring, and acquiring precious metal projects in Mongolia and Peru.

New Mauritius Hotels

Market Cap: MU₨7.4b

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

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

Viking Line Abp

Market Cap: €359.4m

Provides passenger and cargo carrier services.

Wasko

Market Cap: zł753.2m

Designs, implements, and integrats software, information systems, and advanced industrial automation.

Y.D. More Investments

Market Cap: ₪3.1b

A privately owned Investment Manager.

Dekpol

Market Cap: zł677.4m

Dekpol S.A. primary engages in the general contracting and steel structures and equipment businesses in Poland.

Cashmere Valley Bank

Market Cap: US$259.2m

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

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.

Security Federal

Market Cap: US$108.4m

Operates as the bank holding company for Security Federal Bank that provides various banking products and services.

Ilex Medical

Market Cap: ₪631.9m

Engages in the import, marketing, distribution and sale of medical laboratory equipment and various diagnostic products, diagnostic systems, and kits and consumables in Israel, the United States, and internationally.

Caisse Regionale de Credit Agricole Mutuel Toulouse 31

Market Cap: €527.8m

Operates as a cooperative bank in France.

Envirotainer

Market Cap: €377.4m

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 655.1b

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

Fidelity Life Assurance of Zimbabwe

Market Cap: US$73.4m

Provides life and funeral assurance, asset management, actuarial consultancy and micro-financing services in Zimbabwe and Malawi.

High Templar Tech

Market Cap: US$397.5m

Operates as a consumer-oriented financial technology service company in the People’s Republic of China.

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.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 89.9b

Processes heavy bitumen crude in Africa.

First Bancorp

Market Cap: US$331.6m

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

Payton Industries

Market Cap: ₪571.6m

Engages in the development, production, and marketing of transformers in Israel, Asia, Europe, the United States, and internationally.

Alantra Partners

Market Cap: €401.5m

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

Decora

Market Cap: zł785.8m

Engages in the production, distribution, sale, and export of flooring products and accessories in Poland.

Bahrain National Holding Company B.S.C

Market Cap: ب.د60.1m

Bahrain National Holding Company B.S.C., together with its subsidiaries, asset management services in the Kingdom of Bahrain and other GCC countries.

M+S Hydraulic AD

Market Cap: €199.1m

Engages in the production, repair, and sale of hydraulic products and systems in Bulgaria, the rest of Europe, and internationally.