Norwegian Undiscovered Gems With Strong Fundamentals

ABG Sundal Collier Holding

Market Cap: NOK 3.7b

Provides investment banking, stock broking, and corporate advisory services in Norway, Sweden, Denmark, and internationally.

Vistin Pharma

Market Cap: NOK 993.3m

Through its subsidiary, Vistin Pharma AS, engages in the production and sale of active pharmaceutical ingredients (APIs) worldwide.

Gyldendal

Market Cap: NOK 987.5m

Through its subsidiaries, engages in the publishing and distribution of books in Norway.

Saga Pure

Market Cap: NOK 1.0b

An investment company, engages in the investment and management related to industry, energy, and real estate.

Otello

Market Cap: NOK 1.3b

Through its subsidiary, provides mobile solutions and platforms for digital payments, customer engagement, microfinance, and digital services in Norway.

Maritime & Merchant Bank

Market Cap: NOK 1.4b

A private bank, provides first-priority mortgages to the shipping and offshore services industry in Norway and internationally.

S.D. Standard ETC

Market Cap: NOK 980.8m

An investment holding company, focuses on energy, transport, and commodities segments.

Skue Sparebank

Market Cap: NOK 2.0b

Provides various banking products and services for individuals and business in Norway.

Instabank

Market Cap: NOK 1.9b

Provides various banking products and services in Norway.

Smartoptics Group

Market Cap: NOK 5.1b

Provides optical networking solutions and devices in the Americas, Europe, the Middle East, Africa, and the Asia–Pacific.

Jacktel

Market Cap: NOK 1.0b

Together with its subsidiary, engages in the provision of offshore accommodation services in Norway.

BW Offshore

Market Cap: NOK 9.5b

Engages in the engineering of offshore production solutions in the Americas, Europe, Africa, Asia, and the Pacific.

B2 Impact

Market Cap: NOK 8.8b

Provides various debt solutions.

NRC Group

Market Cap: NOK 1.5b

Operates as a rail infrastructure company in Norway, Sweden, and Finland.

Pexip Holding

Market Cap: NOK 7.1b

A video technology company, offers end-to-end video conferencing platform and digital infrastructure in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

NorAm Drilling

Market Cap: NOK 2.1b

Together with its subsidiary, owns and operates AC driven rigs for the drilling of horizontal wells in the United States.

Solstad Offshore

Market Cap: NOK 5.4b

Owns and operates offshore service vessels.

ArcticZymes Technologies

Market Cap: NOK 1.1b

A life sciences company, develops, manufactures, and commercializes recombinant enzymes for use in molecular research, in vitro diagnostics, and biomanufacturing.

Bouvet

Market Cap: NOK 5.3b

Provides IT and digital communication consultancy services for public and private sectors in Norway, Sweden, and internationally.

Odfjell Technology

Market Cap: NOK 2.8b

Operates as a supplier of offshore operations, well services technology, and engineering solutions in Norway, the United Kingdom, rest of Europe, Kuwait, Malaysia, rest of Asia, and internationally.

Cambi

Market Cap: NOK 3.1b

Provides thermal hydrolysis solutions for sewage sludge and organic waste management in Europe, the Americas, Asia, Africa, and Oceania.

Medistim

Market Cap: NOK 4.1b

Develops, produces, services, leases, and distributes medical devices for cardiac and vascular surgery in the United States, Asia, Europe, and internationally.

Appear

Market Cap: NOK 3.2b

Develops and provides solutions for processing, transport, and delivery of live video for the broadcast, media, and sports industries in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Bonheur

Market Cap: NOK 11.4b

Engages in the renewable energy, wind service, and cruise businesses in the United Kingdom, Norway, Europe, Asia, the Americas, Africa, and Internationally.

Ventura Offshore Holding

Market Cap: NOK 3.5b

A deep-water drilling contractor, provides offshore drilling services to the oil and gas industry in Brazil and internationally.

Norconsult

Market Cap: NOK 12.2b

Provides consultancy services with focus on community planning, engineering design, and architecture in the Nordics and internationally.

Norbit

Market Cap: NOK 14.5b

Provides technology solutions to customers in a range of industries.

Sentia

Market Cap: NOK 8.0b

Engages in the construction business in Norway and Sweden.

Elopak

Market Cap: NOK 9.6b

Manufactures and supplies paper-based packaging system solutions for liquid products in Europe, the Middle East, Africa, Asia, Americas, Germany, Canada, Netherlands, Norway, the United States, and internationally.