Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

GTS Internasional

Market Cap: Rp4.6t

PT GTS Internasional Tbk, together with its subsidiaries, transports liquefied natural gas worldwide.

Joyce

Market Cap: AU$163.8m

Joyce Corporation Ltd retails kitchen and wardrobe products in Australia.

Jordanian Duty Free Shops

Market Cap: د.أ144.0m

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

Chobe Holdings

Market Cap: P1.7b

Through its subsidiaries, engages in owning and operating ecotourism lodges and camps on leased lands in northern Botswana and the Caprivi Strip in Namibia.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 76.3b

Processes heavy bitumen crude in Africa.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م32.4b

Produces and sells fertilizers.

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

Market Cap: ج.م22.5b

Provides various banking products and services in Egypt.

Chilanga Cement

Market Cap: K12.6b

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

Colorado

Market Cap: د.م1.3b

Manufactures and distributes various paints in Morocco and internationally.

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

Market Cap: ج.م27.5b

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.

ANSA Merchant Bank

Market Cap: TT$2.6b

Provides a range of banking and financial services in Trinidad and Tobago, and Barbados.

Zambia Sugar

Market Cap: K21.1b

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

Telekom Networks Malawi

Market Cap: MK 363.2b

Provides telecommunication services to enterprises and individual customers in Malawi.

Canal Shipping Agencies

Market Cap: ج.م10.5b

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

FRoSTA

Market Cap: €634.9m

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

Central Forest Group

Market Cap: JP¥21.7b

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

VNV Global

Market Cap: SEK 2.7b

VNV Global AB (publ) formerly known as Vostok New Ventures Ltd., is a private equity and venture capital firm specializing in growth capital, buyout investments, incubation, seed/startup, early venture, mid venture, late venture.

Nigerian Aviation Handling

Market Cap: ₦197.8b

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

Transcorp Power

Market Cap: ₦2.3t

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

GB Holdings

Market Cap: US$55.0m

Produces rubber and chemical products in Zimbabwe.

Dekpol

Market Cap: zł650.6m

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

Standard Bank

Market Cap: MK 998.6b

Provides banking and other related services in Malawi.

Sociedad Matriz SAAM

Market Cap: CL$1.4t

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

Sparta

Market Cap: €123.7m

A publicly owned investment manager.

Acsion

Market Cap: R3.3b

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

Inversiones Doalca SOCIMI

Market Cap: €156.6m

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

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.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 464.2b

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

Sopharma AD

Market Cap: лв1.5b

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

Bank of Africa Mali

Market Cap: XOF 112.3b

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

Transnational Corporation of Nigeria

Market Cap: ₦440.0b

Together with the subsidiaries, engages in the power, oil and gas, and hospitality businesses in Nigeria.

Empresas Lipigas

Market Cap: CL$872.1b

Engages in the distribution and sale of liquefied petroleum gas (LPG), natural gas (NG), and liquefied natural gas (LNG) in Chile, Peru, and Colombia.

Shangri-La Hotel

Market Cap: ฿5.4b

Operates hotels in Bangkok and Chiang Mai provinces.

Gulf Insurance Group - Jordan

Market Cap: د.أ78.0m

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

Morris State Bancshares

Market Cap: US$264.1m

Operates as the bank holding company for Morris Bank that provides various financial services to individuals and small businesses in Georgia.