Global Undiscovered Gems With Strong Fundamentals

Vantage

Market Cap: US$140.6m

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

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Mendelson Infrastructures & Industries

Market Cap: ₪591.9m

Mendelson Infrastructures & Industries Ltd.

Analyst I.M.S. Investment Management Services

Market Cap: ₪1.1b

A publicly owned investment manager.

Transcorp Power

Market Cap: ₦2.5t

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

AB Traction

Market Cap: SEK 4.0b

A private equity firm specializing in distressed, middle market, later stage, mature, bridge, recapitalization, buyouts and PIPES investments.

Wema Bank

Market Cap: ₦300.0b

Provides banking and other financial services to corporate and individual customers in Nigeria.

Capricorn Group

Market Cap: R10.9b

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

NSIA Banque Société Anonyme

Market Cap: XOF 222.2b

Provides various banking products and services.

Nigerian Aviation Handling

Market Cap: ₦157.4b

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

Conoil

Market Cap: ₦186.2b

Conoil Plc markets refined petroleum products, and manufactures and markets lubricants, household, and liquefied petroleum gas (LPG) in Nigeria.

Rotshtein Realestate

Market Cap: ₪1.3b

Develops and constructs residential projects in Israel.

Terminal X Online

Market Cap: ₪555.0m

Offers clothing, footwear, fashion accessories, cosmetics, and beauty products for men, women, and teenager under various brands through online.

Bank of Africa Mali

Market Cap: XOF 82.4b

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

Y.D. More Investments

Market Cap: ₪1.6b

A privately owned Investment Manager.

Amir Marketing and Investments in Agriculture

Market Cap: ₪421.9m

Supplies and markets agricultural inputs in Israel.

First Investment Bank AD

Market Cap: лв757.4m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 266.7b

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

Payton Industries

Market Cap: ₪514.9m

Develops, produces, trades, markets, and sells various types of transformers for communications, electronics, automotive, and industrial equipment industries in Israel, Europe, the United States, and Asia.

C. Mer Industries

Market Cap: ₪355.7m

Provides solutions in the areas of homeland security (HLS), communication infrastructure, and defense technologies.

Linc

Market Cap: SEK 4.2b

A private equity and venture capital firm, specializing in early and mature stage investments in pharmaceutical, life-science and med-tech companies.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 65.6b

Processes heavy bitumen crude in Africa.

Rimoni Industries

Market Cap: ₪415.1m

Engages in the design, engineering, and manufacture of molds, and precise injection molding and assemblies for the medical, automotive, agricultural, high-tech, and consumer industries in Israel.

Grendene

Market Cap: R$4.8b

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

Aura Investments

Market Cap: ₪5.0b

Together with its subsidiaries engages in locating, initiating, planning, and building projects in the field of residential real estate in Israel and internationally.

Transnational Corporation of Nigeria

Market Cap: ₦457.3b

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

Formula Systems (1985)

Market Cap: ₪5.9b

Through its subsidiaries, provides proprietary and non-proprietary software solutions, Information Technologies (IT) professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration.

Malam - Team

Market Cap: ₪1.8b

Provides information technology services in Israel.

Misr Beni Suef CementE

Market Cap: ج.م7.4b

Produces and sells cement products in Egypt and internationally.

MAPFRE Middlesea

Market Cap: €137.1m

Provides non-life and life insurance products and services to individuals, small and medium enterprises, professionals, and businesses in Malta.

Morris State Bancshares

Market Cap: US$212.6m

Operates as the bank holding company for Morris Bank that provides various financial services to individuals and small businesses in Georgia.

Keir International

Market Cap: ر.س474.0m

Provides a range of service solutions.

Jamuna Bank

Market Cap: ৳15.9b

Provides various banking products and services in Bangladesh.

Jadranski naftovod d.d

Market Cap: €801.1m

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

Maistra d.d

Market Cap: €525.3m

Engages in the hotel business in Croatia.

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.