Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

FRoSTA

Market Cap: €634.9m

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

Central Forest Group

Market Cap: JP¥21.7b

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

Shangri-La Hotel

Market Cap: ฿5.4b

Operates hotels in Bangkok and Chiang Mai provinces.

Gulf Insurance Group - Jordan

Market Cap: د.أ78.0m

Engages in the insurance business in Jordan, Middle East, and North Africa region.

Affinity Bancshares

Market Cap: US$123.4m

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

Itafos

Market Cap: CA$560.4m

Operates as a phosphate and specialty fertilizer company.

Hemlo Mining

Market Cap: CA$1.7b

Engages in gold mining.

Epsilon Energy

Market Cap: US$117.4m

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.

Capricorn Group

Market Cap: R13.2b

An investment holding company, engages in the banking, microlending, and related businesses in Namibia, Botswana, and Zambia.

Southern Michigan Bancorp

Market Cap: US$110.9m

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

Intellego Technologies

Market Cap: SEK 1.6b

Manufactures and sells colorimetric ultraviolet indicators in Sweden.

Union Bankshares

Market Cap: US$106.4m

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

Mobile Telecommunications

Market Cap: R6.9b

Operates as a mobile telecommunications company in Namibia.

Procimmo Group

Market Cap: CHF 364.9m

A holding company, engages in the investment, management, and sale of real estate properties in Switzerland.

Bahrain National Holding Company B.S.C

Market Cap: ب.د61.7m

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

Namibia Breweries

Market Cap: R6.2b

Engages in brewing and distribution of alcoholic beverages, and manufacture of soft drinks in Namibia and South Africa.

Sound Financial Bancorp

Market Cap: US$113.2m

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

Grendene

Market Cap: R$4.8b

Engages in the development, production, distribution, and sale of plastic footwear for women, men, and children in Brazil and internationally.

Jadranski naftovod d.d

Market Cap: €806.1m

Engages in the transport and storage of crude oil and petroleum products in the Republic of Croatia and internationally.

Freetrailer Group

Market Cap: €753.0m

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

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.

La Positiva Seguros y Reaseguros

Market Cap: S/602.9m

Provides insurance and reinsurance products and services to individuals and business customers in Peru.

Sociedad Eléctrica del Sur Oeste

Market Cap: S/867.8m

Distributes electricity in Peru.

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E)

Market Cap: Mex$25.6b

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E) was founded in 2018 and is based in Mexico.

FineMark Holdings

Market Cap: US$466.9m

Operates as the bank holding company for FineMark National Bank & Trust that provides various banking and financial services to individual and corporate clients.

Zhe Jiang Dayang Biotech Group

Market Cap: CN¥2.5b

Operates as a chemical raw material manufacturing company in China and internationally.

Saudi Azm for Communication and Information Technology

Market Cap: ر.س1.5b

Provides business and digital technology solutions in the Kingdom of Saudi Arabia.

Changchun FAWAY Group Automobile Components

Market Cap: CN¥7.6b

Engages in the design, manufacture and sales of automotive interior and exterior parts and components in China.

China Post Technology

Market Cap: CN¥7.1b

Engages in the research and development, design, production, sale, and related servicing of intelligent logistics systems in China.

Citra Tubindo

Market Cap: Rp5.0t

Provides pipes and accessories, and related services to the oil and gas industries in Indonesia.

Cigniti Technologies

Market Cap: ₹49.2b

Provides digital assurance and software testing services in India, the United States of America, and internationally.

Vivo Energy Mauritius

Market Cap: MU₨13.0b

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

KNJ

Market Cap: ₩180.9b

Manufactures and sells equipment and parts for display panels and semiconductors in Korea and internationally.

Advanced International Multitech

Market Cap: NT$10.8b

Advanced International Multitech Co., Ltd.

JiangXi BaiSheng Intelligent Technology

Market Cap: CN¥3.5b

JiangXi BaiSheng Intelligent Technology Co., Ltd.