Global Undiscovered Gems With Strong Fundamentals

Arab Insurance Group (B.S.C.)

Market Cap: US$190.2m

Provides life and non-life reinsurance products and related services in the Afro Asia region.

Gulf Insurance Group - Jordan

Market Cap: د.أ80.6m

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

Keir International

Market Cap: ر.س474.0m

Provides a range of service solutions.

ANSA Merchant Bank

Market Cap: TT$3.4b

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

First National Bank of Botswana

Market Cap: P13.3b

Provides various banking and related products and services to individuals, businesses, corporates, and private clients in Botswana.

Zona Franca de Iquique

Market Cap: CL$238.1b

Operates premises for wholesale and retail business centers in the duty-free zones of South America.

West Bancorporation

Market Cap: US$320.0m

Operates as the financial holding company provides community banking and trust services to individuals and small- to medium-sized businesses in the United States.

La Forestière Equatoriale

Market Cap: €120.1m

Does not have any significant operations.

MCH Group

Market Cap: CHF 116.9m

Operates as a live marketing company that provides a network of services in the exhibition and event market worldwide.

Metalpha Technology Holding

Market Cap: US$134.0m

Provides wealth management services in Hong Kong.

Reitar Logtech Holdings

Market Cap: US$324.7m

Through its subsidiaries, provides construction management and engineering design services.

Inversiones Doalca SOCIMI

Market Cap: €154.2m

Inversiones Doalca Socimi, S.A., a real estate investment company, leases and rents real estate properties in Spain.

Eurofins-Cerep

Market Cap: €103.9m

Provides various drug discovery services to pharmaceutical, biopharmaceutical, and biotechnology companies France and internationally.

NSIA Banque Société Anonyme

Market Cap: XOF 222.4b

Provides various banking products and services.

Zambia Sugar

Market Cap: K13.2b

Engages in growing of sugar cane in Zambia, the Democratic Republic of Congo, Kenya, and South Africa.

SALUS Ljubljana d. d

Market Cap: €328.8m

Engages in the provision of distribution, promotion, active sales, and value-added services for the medicinal products in Slovenia and internationally.

Potasios de Chile

Market Cap: CL$536.2b

Engages in investment in shares and other financial instruments in Chile.

Sociedad Matriz SAAM

Market Cap: CL$1.2t

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

Conoil

Market Cap: ₦162.7b

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

Chilanga Cement

Market Cap: K6.1b

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

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Capricorn Group

Market Cap: R10.9b

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

Grendene

Market Cap: R$4.9b

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

Morris State Bancshares

Market Cap: US$223.2m

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

Oakworth Capital

Market Cap: US$156.6m

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

Maistra d.d

Market Cap: €525.3m

Engages in the hotel business in Croatia.

Misr Beni Suef CementE

Market Cap: ج.م8.9b

Produces and sells cement products in Egypt and internationally.

Bank of Africa Mali

Market Cap: XOF 84.7b

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 71.2b

Processes heavy bitumen crude in Africa.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 279.4b

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

Pure Cycle

Market Cap: US$247.3m

Provides wholesale water and wastewater services in the United States.

Solesence

Market Cap: US$288.1m

A science-driven company, develops, manufactures, and sells integrated family of technologies in the United States.

Standard Bank

Market Cap: MK 2.2t

Provides banking and other related services in Malawi.

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

Vantage

Market Cap: US$125.3m

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

Compañía Electro Metalúrgica

Market Cap: CL$328.9b

Operates as producers and vendors of integrated solutions for the mining market in Chile and internationally.