Global Undiscovered Gems With Strong Fundamentals

Jadranski naftovod d.d

Market Cap: €826.3m

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

Transnational Corporation of Nigeria

Market Cap: ₦462.4b

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

Keir International

Market Cap: ر.س474.0m

Provides a range of service solutions.

NSIA Banque Société Anonyme

Market Cap: XOF 215.2b

Provides various banking products and services.

Eurofins-Cerep

Market Cap: €103.9m

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

Bank of Africa Mali

Market Cap: XOF 86.5b

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 66.3b

Processes heavy bitumen crude in Africa.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 259.5b

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

Wema Bank

Market Cap: ₦299.0b

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

Potasios de Chile

Market Cap: CL$536.2b

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

Zambia Sugar

Market Cap: K13.1b

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

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

ANSA Merchant Bank

Market Cap: TT$3.4b

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

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.

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.

Transcorp Power

Market Cap: ₦2.5t

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

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.

Capricorn Group

Market Cap: R10.9b

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

Zona Franca de Iquique

Market Cap: CL$237.8b

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

Standard Bank

Market Cap: MK 2.2t

Provides banking and other related services in Malawi.

Chilanga Cement

Market Cap: K6.1b

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

La Forestière Equatoriale

Market Cap: €120.1m

Does not have any significant operations.

Industrias del Cobre Sociedad Anónima

Market Cap: S/789.0m

Engages in the manufacture and sale of cables and electrical and telecommunication conductors in Peru and internationally.

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

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.

Compañía Electro Metalúrgica

Market Cap: CL$328.9b

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

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.

Miwon Chemicals

Market Cap: ₩161.5b

Develops, manufactures, and sells performance chemicals for use in the rubber, detergent, and personal care industries worldwide.

Dong Fang Offshore

Market Cap: NT$35.5b

Offers vessel solutions for offshore wind projects, which include guard, MMO, CTV, HDD, transportation, berth, and cargo transfer services.

CMC

Market Cap: JP¥19.4b

Provides manual creation, business process management, training, translation, and interpretation services in Japan.

Goldiam International

Market Cap: ₹38.3b

Manufactures, sells, and trades in diamond studded gold, silver, and platinum jewelry in India.

Alltek Technology

Market Cap: NT$9.1b

Operates as a communication components distributor and solution provider in Taiwan, China, and internationally.

Champion Building MaterialsLtd

Market Cap: NT$4.3b

Champion Building Materials Co., Ltd., together with its subsidiaries, manufactures and markets ceramics, ceramic products, stone products, fire-resistant materials, and other chemical products.

Suzhou Highfine Biotech

Market Cap: CN¥6.2b

Manufactures and sells chemicals for pharmaceutical research and development, and API production companies in China.

Ruentex Interior Design

Market Cap: NT$3.5b

Engages in the interior design and decoration, landscape design engineering, and construction businesses in Taiwan.