Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Bahrain National Holding Company B.S.C

Market Cap: ب.د62.3m

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

Telekom Networks Malawi

Market Cap: MK 360.6b

Provides telecommunication services to enterprises and individual customers in Malawi.

Bank of Africa Mali

Market Cap: XOF 119.5b

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 460.9b

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

Standard Bank

Market Cap: MK 998.0b

Provides banking and other related services in Malawi.

Sparta

Market Cap: €141.9m

A publicly owned investment manager.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م31.3b

Produces and sells fertilizers.

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

Market Cap: ج.م22.3b

Provides various banking products and services in Egypt.

Suez Canal Company for Technology Settling (S.A.E)

Market Cap: ج.م25.3b

Engages in the establishment and management of technology zones, scientific incubators, and training centers for the preparation of researchers, transfer technology, and related services in Egypt.

Jadranski naftovod d.d

Market Cap: €786.0m

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

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.

Practic

Market Cap: RON 950.3m

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

FRoSTA

Market Cap: €666.3m

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

Chilanga Cement

Market Cap: K16.8b

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 84.2b

Processes heavy bitumen crude in Africa.

ANSA Merchant Bank

Market Cap: TT$2.1b

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

Central Forest Group

Market Cap: JP¥22.2b

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

Arab Banking Corporation (B.S.C.)

Market Cap: US$990.2m

Provides wholesale banking services worldwide.

Canal Shipping Agencies

Market Cap: ج.م10.0b

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

Winchester Bancorp

Market Cap: US$110.0m

Focuses on operating as the bank holding company for Winchester Savings Bank, which provides banking products and services in Massachusetts.

Oakworth Capital

Market Cap: US$191.9m

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

First Bancorp

Market Cap: US$326.8m

Operates as the bank holding company for First National Bank that provides a range of banking products and services to individual and corporate customers.

Union Bankshares

Market Cap: US$114.7m

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

Soma Gold

Market Cap: CA$244.2m

A natural resource company, engages in the acquisition, exploration, and development of mineral properties in Columbia.

Pure Cycle

Market Cap: US$272.2m

Provides water and wastewater services in the United States.

Namibia Breweries

Market Cap: R6.2b

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

Kingstone Companies

Market Cap: US$234.7m

Through its subsidiary, Kingstone Insurance Company ("KICO"), provides property and casualty insurance products in the United States.

ASA Gold and Precious Metals

Market Cap: US$1.3b

A publicly owned investment manager.

Grendene

Market Cap: R$4.4b

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

Southern Michigan Bancorp

Market Cap: US$117.7m

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.

Franklin Financial Services

Market Cap: US$213.7m

Operates as the bank holding company for Farmers and Merchants Trust Company of Chambersburg that provides commercial, retail banking, and trust services to businesses, individuals, governmental entities in Pennsylvania.

Hemlo Mining

Market Cap: CA$1.9b

Operates as a gold production company.

Sound Financial Bancorp

Market Cap: US$112.7m

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

Morris State Bancshares

Market Cap: US$272.6m

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

Epsilon Energy

Market Cap: US$139.3m

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.