Global Undiscovered Gems With Strong Fundamentals

Wilson Bank Holding

Market Cap: US$486.6m

Operates as the bank holding company for Wilson Bank and Trust that provides various banking services to individuals, professionals, and small businesses in Tennessee.

Inversiones Doalca SOCIMI

Market Cap: €154.2m

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

Itafos

Market Cap: CA$438.8m

Operates as a phosphate and specialty fertilizer company.

Innovex International

Market Cap: US$1.0b

Designs, manufactures, sells, and rents mission critical engineered products to the oil and natural gas industry worldwide.

First National Bank of Botswana

Market Cap: P13.2b

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

Chilanga Cement

Market Cap: K5.6b

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

Solesence

Market Cap: US$197.7m

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

Transcorp Power

Market Cap: ₦2.7t

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

Teekay

Market Cap: US$650.8m

Provides crude oil marine transportation and other marine services worldwide.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 230.5b

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

FRMO

Market Cap: US$361.9m

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

Misr Beni Suef CementE

Market Cap: ج.م5.1b

Produces and sells cement products in Egypt and internationally.

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

Market Cap: ج.م11.4b

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.

NSIA Banque Société Anonyme

Market Cap: XOF 205.5b

Provides various banking products and services.

Conoil

Market Cap: ₦229.8b

Conoil Plc markets refined petroleum products, and manufactures and markets lubricants, household, and liquefied petroleum gas (LPG) in Nigeria.

Nigerian Aviation Handling

Market Cap: ₦165.4b

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

Oakworth Capital

Market Cap: US$152.0m

Operates as a bank holding company for Oakworth Capital Bank that provides range of banking services in the United States.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 62.4b

Processes heavy bitumen crude in Africa.

Capricorn Group

Market Cap: R10.9b

An investment holding company, engages in the banking, microlending, and related businesses in Namibia, Botswana, and Zambia.

Reitar Logtech Holdings

Market Cap: US$227.2m

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

Bank of Africa Mali

Market Cap: XOF 71.4b

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

La Forestière Equatoriale

Market Cap: €137.1m

Does not have any significant operations.

Zambia Sugar

Market Cap: K12.7b

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

Zona Franca de Iquique

Market Cap: CL$203.5b

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

Maistra d.d

Market Cap: €514.4m

Engages in the hotel business in Croatia.

Greenfire Resources

Market Cap: US$316.0m

Engages in the exploration, development, and operation of oil and gas properties in the Athabasca oil sands region of Alberta, Canada.

Pure Cycle

Market Cap: US$258.1m

Provides wholesale water and wastewater services in the United States.

Castellana Properties Socimi

Market Cap: €893.4m

As of December 20, 2016, Castellana Properties Socimi, S.A.

Procimmo Group

Market Cap: CHF 225.2m

A holding company, engages in the investment, management, and sale of real estate properties in Switzerland.

Central Bancompany

Market Cap: US$1.4b

Operates as a multi-bank holding company.

FineMark Holdings

Market Cap: US$324.2m

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

Keir International

Market Cap: ر.س474.0m

Provides a range of service solutions.

Qudian

Market Cap: US$483.8m

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

Sociedad Matriz SAAM

Market Cap: CL$1.2t

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

Grendene

Market Cap: R$5.0b

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

First IC

Market Cap: US$172.7m

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