Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Onix Solar Energy

Market Cap: ₹14.7b

Engages in the trading of non-ferrous metals in India.

Kingstone Companies

Market Cap: US$221.3m

Through its subsidiary, Kingstone Insurance Company ("KICO"), provides property and casualty insurance products in the United States.

Epsilon Energy

Market Cap: US$166.5m

A North American onshore independent natural gas and oil company, engages in the acquisition, exploration, development, gathering, and production of natural oil and gas reserves.

Lion Capital

Market Cap: RON 2.3b

SIF Banat-Crisana is a self-managed closed-end investment company and since March 2018, it is authorized by ASF as alternative investment fund manager.

Mobile Telecommunications

Market Cap: R7.0b

Operates as a mobile telecommunications company in Namibia.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 102.9b

Processes heavy bitumen crude in Africa.

Winchester Bancorp

Market Cap: US$119.6m

Operates as a bank holding company for Winchester Savings Bank that provides banking products and services in the United States.

Telekom Networks Malawi

Market Cap: MK 357.4b

Provides telecommunication services to enterprises and individual customers in Malawi.

ASA Gold and Precious Metals

Market Cap: US$1.3b

A publicly owned investment manager.

ANSA Merchant Bank

Market Cap: TT$2.1b

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

FRoSTA

Market Cap: €647.2m

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

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.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 631.8b

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

Chilanga Cement

Market Cap: K16.1b

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

Soma Gold

Market Cap: CA$247.8m

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

New Mauritius Hotels

Market Cap: MU₨7.2b

Operates hotels in Mauritius, Europe, Morocco, and internationally.

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

Freetrailer Group

Market Cap: €558.5m

A technology company, operates a sharing-economy platform for the free rental of trailers and cargo bikes in Denmark, Sweden, Germany, and the Netherlands.

Standard Bank

Market Cap: MK 996.0b

Provides banking and other related services in Malawi.

Security Federal

Market Cap: US$112.5m

Operates as the bank holding company for Security Federal Bank that provides various banking products and services.

M+S Hydraulic AD

Market Cap: €207.0m

Engages in the production, repair, and sale of hydraulic products and systems in Bulgaria, the rest of Europe, and internationally.

GB Holdings

Market Cap: US$55.0m

Produces rubber and chemical products in Zimbabwe.

Master Drilling Group

Market Cap: R2.6b

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: R4.6b

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

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

Market Cap: ج.م22.3b

Provides various banking products and services in Egypt.

Central Forest Group

Market Cap: JP¥22.8b

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

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م30.7b

Produces and sells fertilizers.

Guardian Capital Group

Market Cap: CA$1.6b

Through its subsidiaries, primarily engages in the provision of investment services in Canada, the United States, the United Kingdom, and internationally.

Nigerian Aviation Handling

Market Cap: ₦319.5b

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

Oakworth Capital

Market Cap: US$191.0m

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

AB Akola Group

Market Cap: €289.9m

Through its subsidiaries, engages in the production, preparation, and sale of agricultural and food products in Lithuania, Scandinavian, rest of Europe, Africa, Asia, and CIS countries.

Sociedad Matriz SAAM

Market Cap: CL$1.3t

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

Vivo Energy Mauritius

Market Cap: MU₨13.1b

Vivo Energy Mauritius Limited markets, supplies, and distributes fuels and lubricants to retail and commercial customers in Mauritius.

Union Bankshares

Market Cap: US$110.0m

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

Affinity Bancshares

Market Cap: US$118.9m

Operates as the holding company for Affinity Bank that provides various banking products and services in Georgia.