Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Bahrain National Holding Company B.S.C

Market Cap: ب.د60.1m

Bahrain National Holding Company B.S.C., together with its subsidiaries, asset management services in the Kingdom of Bahrain and other GCC countries.

Marvipol Development

Market Cap: zł447.8m

Develops residential projects in Poland.

Banque Nationale Agricole Société anonyme

Market Cap: د.ت964.7m

Provides various banking products and services in Tunisia.

Fidelity Life Assurance of Zimbabwe

Market Cap: US$62.4m

Provides life and funeral assurance, asset management, actuarial consultancy and micro-financing services in Zimbabwe and Malawi.

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.

First National Bank of Botswana

Market Cap: P14.4b

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 645.1b

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

Southern Michigan Bancorp

Market Cap: US$123.9m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and government agencies primarily in the southwest and south-central Michigan communities.

GB Holdings

Market Cap: US$55.2m

Produces rubber and chemical products in Zimbabwe.

Sopharma AD

Market Cap: €914.4m

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

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.

Chilanga Cement

Market Cap: K14.0b

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

Anbio Biotechnology

Market Cap: US$1.2b

Provides in vitro diagnostics (IVD) products in the European Union, the Asia Pacific, North America, South America, Africa, and internationally.

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

New Mauritius Hotels

Market Cap: MU₨7.4b

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

Bank of Africa Mali

Market Cap: XOF 129.0b

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

First Northern Community Bancorp

Market Cap: US$250.2m

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.

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

Market Cap: ج.م23.6b

Provides various banking products and services in Egypt.

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

Market Cap: ج.م52.3b

Engages in the establishment and management of technology zones, scientific incubators, and training centers for the preparation of researchers, transfer technology, and related services in Egypt.

Telekom Networks Malawi

Market Cap: MK 347.4b

Provides telecommunication services to enterprises and individual customers in Malawi.

HOMAG Group

Market Cap: €401.6m

Manufactures and sells machines and solutions for wood processing and timber construction industries worldwide.

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.

Nigerian Aviation Handling

Market Cap: ₦471.7b

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

Moury Construct

Market Cap: €292.5m

Moury Construct SA, together with its subsidiaries, constructs and renovates residential and non-residential buildings in Belgium.

Transnational

Market Cap: ₦497.9b

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 89.9b

Processes heavy bitumen crude in Africa.

Canal Shipping Agencies

Market Cap: ج.م9.0b

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

Union Bankshares

Market Cap: US$113.9m

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

Payton Industries

Market Cap: ₪571.6m

Engages in the development, production, and marketing of transformers in Israel, Asia, Europe, the United States, and internationally.

Sociedad Matriz SAAM

Market Cap: CL$1.5t

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

Corporación Financiera Colombiana

Market Cap: Col$6.1t

Operates as a private financial institution in Columbia and Central America.

Grendene

Market Cap: R$4.3b

Engages in the development, production, distribution, sale, and market of plastic footwear in Brazil, North America, Asia, Oceania, Europe, Central and South America, the Middle East, and Africa.

Itafos

Market Cap: CA$685.6m

Produces and sells phosphate and specialty fertilizers in the United States, Brazil, and Guinea-Bissau.

Y.D. More Investments

Market Cap: ₪3.1b

A privately owned Investment Manager.

Terminal X Online

Market Cap: ₪995.2m

Engages in the marketing and sale of fashion and lifestyle products in Israel.