Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

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.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م32.0b

Produces and sells fertilizers.

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.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 75.6b

Processes heavy bitumen crude in Africa.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 472.4b

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

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.

Empresas Lipigas

Market Cap: CL$964.8b

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

ANSA Merchant Bank

Market Cap: TT$2.6b

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

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.

FRoSTA

Market Cap: €626.8m

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

Central Forest Group

Market Cap: JP¥22.0b

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

Standard Bank

Market Cap: MK 998.5b

Provides banking and other related services in Malawi.

Transcorp Power

Market Cap: ₦2.3t

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

Telekom Networks Malawi

Market Cap: MK 363.4b

Provides telecommunication services to enterprises and individual customers in Malawi.

Canal Shipping Agencies

Market Cap: ج.م11.0b

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

Bahrain National Holding Company B.S.C

Market Cap: ب.د62.3m

Provides insurance and investment products in the Kingdom of Bahrain, other GCC countries, and internationally.

Sopharma AD

Market Cap: лв1.5b

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

Bank of Africa Mali

Market Cap: XOF 119.3b

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

Tri-County Financial Group

Market Cap: US$115.9m

Operates as a bank holding company for First State Bank, providing various banking and mortgage banking services and insurance services to individuals and businesses in the United States.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.0b

Provides wholesale banking services worldwide.

Colorado

Market Cap: د.م1.3b

Manufactures and distributes various paints in Morocco and internationally.

Chilanga Cement

Market Cap: K13.9b

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

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

Market Cap: ج.م26.3b

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.

Smart Organic AD

Market Cap: лв372.0m

Produces and distributes organic food products in Bulgaria, the European Union, Asia, and the Americas.

First Northern Community Bancorp

Market Cap: US$211.5m

Operates as the bank holding company for First Northern Bank of Dixon that provides commercial banking products and services to individuals, and small and medium sized businesses.

ASA Gold and Precious Metals

Market Cap: US$1.1b

A publicly owned investment manager.

A3 Mercados

Market Cap: AR$839.7b

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

Sound Financial Bancorp

Market Cap: US$113.6m

Operates as the bank holding company for Sound Community Bank that provides banking and other financial services for consumers and businesses.

Sparta

Market Cap: €125.6m

A publicly owned investment manager.

Zambia Sugar

Market Cap: K21.1b

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

FRMO

Market Cap: US$330.2m

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

Pure Cycle

Market Cap: US$285.7m

Provides water and wastewater services in the United States.

First Bancorp

Market Cap: US$318.2m

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

Soma Gold

Market Cap: CA$193.5m

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