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.

HG Metal Manufacturing

Market Cap: S$170.3m

An investment holding company, primarily trades in steel products in Indonesia, Malaysia, Myanmar, and Singapore.

Hoshi Iryo-Sanki

Market Cap: JP¥16.7b

Manufactures and sells pharmaceutical medical oxygen and nitrous oxides in Japan.

Cashmere Valley Bank

Market Cap: US$266.2m

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

Union Bankshares

Market Cap: US$113.0m

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

Pasifik Holding

Market Cap: ₺31.8b

Through its subsidiaries, engages in providing diversified range of services in various sectors.

Chilanga Cement

Market Cap: K13.9b

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

Anbio Biotechnology

Market Cap: US$1.2b

Provides in vitro diagnostics (IVD) products in the European Union, the Asia Pacific, North America, South America, Africa, and internationally.

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

Market Cap: ج.م23.5b

Provides various banking products and services in Egypt.

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

Market Cap: ج.م62.8b

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.

GROUPE SFPI

Market Cap: €170.1m

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

Odas Elektrik Üretim Sanayi Ticaret

Market Cap: ₺9.6b

Produces and sells electricity by natural gas combined cycles in Turkey and internationally.

Telekom Networks Malawi

Market Cap: MK 347.4b

Provides telecommunication services to enterprises and individual customers in Malawi.

Canal Shipping Agencies

Market Cap: ج.م9.1b

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

Fidelity Life Assurance of Zimbabwe

Market Cap: US$62.4m

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 633.7b

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

Lion Capital

Market Cap: RON 2.3b

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.

Security Federal

Market Cap: US$111.2m

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

Pasifik Eurasia Lojistik Dis Ticaret

Market Cap: ₺83.9b

Pasifik Eurasia Lojistik Dis Ticaret A.S.

Segmen Kardesler Gida Üretim ve Ambalaj Sanayi Anonim Sirketi

Market Cap: ₺8.9b

Produces and sells food products in Turkey.

Tureks Turizm Tasimacilik Anonim Sirketi

Market Cap: ₺9.0b

Engages in group transportation, and fleet and individual vehicle rental activities in Turkey.

Mobiltel Iletisim Hizmetleri Sanayi ve Ticaret

Market Cap: ₺13.6b

Mobiltel Iletisim Hizmetleri Sanayi ve Ticaret A.S.

Kirac Galvaniz Telekominikasyon Metal Makine Insaat Elektrik Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺17.9b

Operates as a guardrail supplier company in Turkey.

Cyprus Cement

Market Cap: €172.8m

Engages in the production and sale of cement and related businesses in Cyprus.

Banque Nationale Agricole Société anonyme

Market Cap: د.ت971.1m

Provides various banking products and services in Tunisia.

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.

HOMAG Group

Market Cap: €392.2m

Manufactures and sells machines and solutions for wood processing and timber construction industries worldwide.

Nigerian Aviation Handling

Market Cap: ₦471.7b

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

Corporación Financiera Colombiana

Market Cap: Col$6.1t

Operates as a private financial institution in Columbia and Central America.

Alfin Banco

Market Cap: S/433.7m

Provides various banking and financial products and services.

Empresas Lipigas

Market Cap: CL$933.6b

Provides energy solutions through the marketing, distribution, and sale of liquefied petroleum gas (LPG), natural gas (NG), liquefied natural gas (LNG), and electricity for residential, commercial, and industrial use in Chile, Colombia, Peru, and Ecuador.

Nexa Resources AtacochaA

Market Cap: S/1.3b

Operates as a mining company worldwide.

Potasios de Chile

Market Cap: CL$1.0t

Invests in shares and other financial instruments in Chile.

GB Holdings

Market Cap: US$55.2m

Produces rubber and chemical products in Zimbabwe.