Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

TSTE

Market Cap: ฿4.5b

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

Hua Na Hydropower

Market Cap: ₫5.7t

Engages in the electricity generation activities.

Vinacomin - Power Holding

Market Cap: ₫8.7t

Engages in the investment, construction, exploitation, and operation of thermal power and hydroelectric plants, and electronic factories using new energy, renewable energy, power grids, and power supply systems in Vietnam.

Bonraybio

Market Cap: NT$4.1b

A development stage company, manufactures medical instruments and solutions for the male infertility market.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 70.2b

Processes heavy bitumen crude in Africa.

Southern Michigan Bancorp

Market Cap: US$106.9m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest and south-central Michigan communities.

Itafos

Market Cap: CA$583.6m

Operates as a phosphate and specialty fertilizer company.

Valhi

Market Cap: US$499.7m

Engages in the chemicals, component products, and real estate management and development businesses in Europe, North America, the Asia Pacific, and internationally.

Affinity Bancshares

Market Cap: US$121.9m

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

First Bancorp

Market Cap: US$291.5m

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

FRMO

Market Cap: US$389.6m

Through Horizon Kinetics, LLC, operates as an investment advisory and independent research company in the United States.

Transcorp Power

Market Cap: ₦2.4t

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

Linkhome Holdings

Market Cap: US$158.3m

Through its subsidiary, Linkhome Realty Group, provides real estate related services in the United States.

Gulf Island Fabrication

Market Cap: US$109.0m

Operates as a fabricator of steel structures and modules in the United States.

va-Q-tec

Market Cap: €395.1m

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

First National Bank of Botswana

Market Cap: P13.5b

Provides various banking and related products and services to individuals, businesses, corporates, and private clients in Botswana.

FineMark Holdings

Market Cap: US$502.3m

Operates as the bank holding company for FineMark National Bank & Trust that provides various banking and financial services to individual and corporate clients.

Solesence

Market Cap: US$299.3m

A science-driven company, develops, manufactures, and sells integrated family of technologies in the United States.

Pure Cycle

Market Cap: US$244.1m

Provides wholesale water and wastewater services in the United States.

Standard Bank

Market Cap: MK 563.9b

Provides banking and other related services in Malawi.

Colorado

Market Cap: د.م983.2m

Manufactures and distributes various paints in Morocco and internationally.

La Forestière Equatoriale

Market Cap: €108.8m

Does not have any significant operations.

Reitar Logtech Holdings

Market Cap: US$272.9m

Through its subsidiaries, provides construction management and engineering design services.

Deutsche Balaton

Market Cap: €194.2m

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

Eurofins-Cerep

Market Cap: €92.3m

Provides various drug discovery services to pharmaceutical, biopharmaceutical, and biotechnology companies France and internationally.

Inversiones Doalca SOCIMI

Market Cap: €153.0m

Inversiones Doalca Socimi, S.A., a real estate investment company, leases and rents real estate properties in Spain.

Acsion

Market Cap: R2.3b

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

Sociedad Matriz SAAM

Market Cap: CL$1.1t

Through its subsidiaries, provides tugboat services, air cargo logistics, and real estate rentals in South America, Central America, and North America.

Rich Sparkle Holdings

Market Cap: US$325.1m

Provides financial printing and corporate services in Hong Kong.

Zona Franca de Iquique

Market Cap: CL$215.3b

Operates premises for wholesale and retail business centers in the duty-free zones of South America.

NSIA Banque Société Anonyme

Market Cap: XOF 239.9b

Provides various banking products and services.

Chilanga Cement

Market Cap: K6.1b

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

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

Market Cap: ج.م12.9b

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.

Arab Insurance Group (B.S.C.)

Market Cap: US$190.2m

Provides life and non-life reinsurance products and related services in the Afro Asia region.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 304.5b

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