Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Standard Bank

Market Cap: MK 998.5b

Provides banking and other related services in Malawi.

Empresas Lipigas

Market Cap: CL$951.2b

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

Purple Group

Market Cap: R2.9b

A financial services and technology company, engages in trading platforms, fractional property and crypto asset investing, retirement fund administration, and asset management businesses in South Africa.

Central Cooperative Bank AD

Market Cap: лв237.7m

A commercial bank, provides various financial products and services.

Canal Shipping Agencies

Market Cap: ج.م10.7b

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

Transcorp Power

Market Cap: ₦2.3t

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

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.0b

Provides wholesale banking services worldwide.

GB Holdings

Market Cap: US$55.0m

Produces rubber and chemical products in Zimbabwe.

Telekom Networks Malawi

Market Cap: MK 363.2b

Provides telecommunication services to enterprises and individual customers in Malawi.

Nigerian Aviation Handling

Market Cap: ₦202.7b

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

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.

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

Market Cap: ج.م27.1b

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.م22.1b

Provides various banking products and services in Egypt.

FRoSTA

Market Cap: €632.2m

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 439.5b

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

Famous Brands

Market Cap: R5.4b

Through its subsidiaries, operates as a quick service and casual dining restaurant franchisor in the United Kingdom, South Africa, South African Development Community, the Middle East, and Rest of Africa.

Colorado

Market Cap: د.م1.3b

Manufactures and distributes various paints in Morocco and internationally.

Sparta

Market Cap: €125.6m

A publicly owned investment manager.

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.

Chilanga Cement

Market Cap: K14.0b

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

Master Drilling Group

Market Cap: R2.4b

An investment holding company, provides specialized drilling services to blue chip major and mid-tier companies in the mining, civil engineering, construction, and hydroelectric power sectors.

Acsion

Market Cap: R3.6b

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

Central Forest Group

Market Cap: JP¥22.4b

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

ANSA Merchant Bank

Market Cap: TT$2.6b

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

Deutsche Balaton

Market Cap: €248.5m

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

Bank of Africa Mali

Market Cap: XOF 116.5b

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 74.1b

Processes heavy bitumen crude in Africa.

Envirotainer

Market Cap: €395.1m

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

Hemlo Mining

Market Cap: CA$1.8b

Engages in gold mining.

Grendene

Market Cap: R$4.7b

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

A3 Mercados

Market Cap: AR$847.1b

Operates as a market for negotiable securities in Argentina and internationally.

ASA Gold and Precious Metals

Market Cap: US$1.1b

A publicly owned investment manager.

Union Bankshares

Market Cap: US$106.0m

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

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E)

Market Cap: Mex$26.2b

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E) was founded in 2018 and is based in Mexico.

Soma Gold

Market Cap: CA$193.5m

A natural resource company, engages in the acquisition, exploration, and development of mineral properties in Columbia.