Global Undiscovered Gems With Strong Fundamentals

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.

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Shenzhen Coship Electronics

Market Cap: CN¥7.6b

Engages in the manufacture and sale of smart home products and services worldwide.

Sun

Market Cap: MU₨6.5b

Operates in the tourism sector.

Misr Beni Suef CementE

Market Cap: ج.م6.6b

Produces and sells cement products in Egypt and internationally.

Keir International

Market Cap: ر.س474.0m

Provides a range of service solutions.

La Forestière Equatoriale

Market Cap: €120.1m

Does not have any significant operations.

Chilanga Cement

Market Cap: K6.1b

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

Valhi

Market Cap: US$434.6m

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 268.3b

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

Bank of Africa Mali

Market Cap: XOF 82.4b

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

Transnational Corporation of Nigeria

Market Cap: ₦468.0b

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

Jordanian Duty Free Shops

Market Cap: د.أ150.8m

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

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.

Famous Brands

Market Cap: R6.4b

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

Purple Group

Market Cap: R2.0b

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.

FRMO

Market Cap: US$368.0m

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

Pure Cycle

Market Cap: US$244.1m

Provides wholesale water and wastewater services in the United States.

Sugar Terminals

Market Cap: AU$352.8m

Provides storage and handling solutions for bulk sugar and other commodities in Australia.

Sparta

Market Cap: €86.8m

A publicly owned investment manager.

Vantage

Market Cap: US$134.4m

Provides shipbroking services to the oil tanker industry in Singapore and Dubai.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

Engages in the development and manufacture of generic and in-licensed medicines in Bulgaria.

Zambia Sugar

Market Cap: K13.2b

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

West Bancorporation

Market Cap: US$318.7m

Operates as the financial holding company provides community banking and trust services to individuals and small- to medium-sized businesses in the United States.

Transcorp Power

Market Cap: ₦2.5t

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

Central Cooperative Bank AD

Market Cap: лв213.6m

A commercial bank, provides various financial products and services.

Itafos

Market Cap: CA$498.5m

Operates as a phosphate and specialty fertilizer company.

SALUS Ljubljana d. d

Market Cap: €353.4m

Engages in the provision of distribution, promotion, active sales, and value-added services for the medicinal products in Slovenia and internationally.

Practic

Market Cap: RON 570.2m

Engages in the lease and sublease of real estate properties in Romania.

Standard Bank

Market Cap: MK 2.2t

Provides banking and other related services in Malawi.

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.

Solesence

Market Cap: US$285.3m

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

Oakworth Capital

Market Cap: US$156.7m

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

Reitar Logtech Holdings

Market Cap: US$301.6m

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

Maistra d.d

Market Cap: €518.8m

Engages in the hotel business in Croatia.

Lampsa Hellenic Hotels

Market Cap: €828.9m

Operates hotels primarily in Greece, Cyprus, and Serbia.