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.م31.7b

Produces and sells fertilizers.

Chilanga Cement

Market Cap: K12.4b

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

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

Market Cap: ج.م29.6b

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.م22.0b

Provides various banking products and services in Egypt.

Sopharma AD

Market Cap: лв1.4b

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

Namibia Breweries

Market Cap: R6.2b

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

Colorado

Market Cap: د.م1.3b

Manufactures and distributes various paints in Morocco and internationally.

Bank of Africa Mali

Market Cap: XOF 109.7b

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

Nigerian Aviation Handling

Market Cap: ₦207.6b

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

Standard Bank

Market Cap: MK 1.0t

Provides banking and other related services in Malawi.

GB Holdings

Market Cap: US$55.2m

Produces rubber and chemical products in Zimbabwe.

Gulf Insurance Group - Jordan

Market Cap: د.أ80.6m

Engages in the insurance business in Jordan, Middle East, and North Africa region.

Canal Shipping Agencies

Market Cap: ج.م10.3b

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

Sparta

Market Cap: €113.0m

A publicly owned investment manager.

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.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 74.1b

Processes heavy bitumen crude in Africa.

Freetrailer Group

Market Cap: €705.3m

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

Zambia Sugar

Market Cap: K20.7b

Engages in growing of sugar cane in Zambia, the Democratic Republic of Congo, Kenya, and South Africa.

Central Forest Group

Market Cap: JP¥21.5b

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

SALUS Ljubljana d. d

Market Cap: €397.8m

Engages in the distribution, promotion, sales services, and value-added services for medicinal products or medical devices in Slovenia and internationally.

Jadranski naftovod d.d

Market Cap: €806.1m

Engages in the transport and storage of crude oil and petroleum products in the Republic of Croatia and internationally.

Metalpha Technology Holding

Market Cap: US$105.1m

Provides wealth management services in Hong Kong.

Union Bankshares

Market Cap: US$103.7m

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

Epsilon Energy

Market Cap: US$113.7m

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.

ASA Gold and Precious Metals

Market Cap: US$998.2m

A publicly owned investment manager.

Deutsche Balaton

Market Cap: €233.9m

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

Sava druzba za upravljanje in financiranje d.d

Market Cap: €111.5m

Engages in the tourism business in Slovenia.

Liburnia Riviera Hoteli d.d

Market Cap: €161.9m

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 460.9b

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

Transcorp Power

Market Cap: ₦2.3t

Engages in the generation and sale of electric power in Nigeria and internationally.

Affinity Bancshares

Market Cap: US$120.9m

Operates as the holding company for Affinity Bank that provides various banking products and services in Georgia.

FRoSTA

Market Cap: €634.9m

Develops, produces, and markets frozen food products in Germany, Poland, Austria, Italy, and Eastern Europe.

Itafos

Market Cap: CA$568.1m

Operates as a phosphate and specialty fertilizer company.

Grendene

Market Cap: R$4.6b

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