Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Intellego Technologies

Market Cap: SEK 1.6b

Manufactures and sells ultraviolet indicators in Sweden, the United Kingdom, the United States, Europe, China, and internationally.

Freetrailer Group

Market Cap: €733.9m

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

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.

Telekom Networks Malawi

Market Cap: MK 360.4b

Provides telecommunication services to enterprises and individual customers in Malawi.

Sparta

Market Cap: €126.9m

A publicly owned investment manager.

BAUER

Market Cap: €275.4m

Provides services, equipment, and products related to ground and groundwater in Germany, Europe, the Middle East, the Asia Pacific, the Americas., and Africa.

GB Holdings

Market Cap: US$54.7m

Produces rubber and chemical products in Zimbabwe.

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.

Standard Bank

Market Cap: MK 996.1b

Provides banking and other related services in Malawi.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 99.5b

Processes heavy bitumen crude in Africa.

Bank of Africa Mali

Market Cap: XOF 119.3b

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

Chilanga Cement

Market Cap: K16.3b

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

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م31.1b

Produces and sells fertilizers.

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

Market Cap: ج.م23.5b

Provides various banking products and services in Egypt.

Sopharma AD

Market Cap: €986.6m

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

Empresas Lipigas

Market Cap: CL$943.0b

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

Practic

Market Cap: RON 950.3m

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

Gulf Insurance Group - Jordan

Market Cap: د.أ80.6m

Engages in the insurance business in Jordan, the Middle East, North Africa, Europe, Asia, America, and the Near East.

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.

Canal Shipping Agencies

Market Cap: ج.م9.4b

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 510.6b

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

Central Forest Group

Market Cap: JP¥22.3b

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

Yibin City Commercial Bank

Market Cap: HK$12.1b

Provides banking and financial products and services to small and micro enterprises in the People’s Republic of China.

Bahrain National Holding Company B.S.C

Market Cap: ب.د62.4m

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

FRoSTA

Market Cap: €662.2m

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

Cisadane Sawit Raya

Market Cap: Rp2.1t

Engages in the oil palm plantation business in Indonesia and internationally.

Kyungdong Invest

Market Cap: ₩159.2b

Primarily engages in the supply of city gas in South Korea.

Mulpha International Bhd

Market Cap: RM 891.0m

An investment holding company, invests in the real estate and hospitality sectors in Malaysia, Australia, and New Zealand.

GTS Internasional

Market Cap: Rp4.8t

PT GTS Internasional Tbk, together with its subsidiaries, transports liquefied natural gas worldwide.

Guangdong Goworld

Market Cap: CN¥8.1b

Provides electronic components and ultrasonic electronic instruments in China.

Oriental Precision & EngineeringLtd

Market Cap: ₩353.0b

Oriental Precision & Engineering Co.,Ltd.

Shenzhen Coship Electronics

Market Cap: CN¥8.7b

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

Jinghua Pharmaceutical Group

Market Cap: CN¥6.3b

Engages in the research and development, manufacture, and sale of APIs and pharmaceutical intermediates in China.

Surya Citra Media

Market Cap: Rp19.4t

Provides multimedia services in Indonesia.

Guangdong Green Precision Components

Market Cap: CN¥5.8b

Guangdong Green Precision Components Co., Ltd.