Norwegian Undiscovered Gems With Strong Fundamentals

ABG Sundal Collier Holding

Market Cap: NOK 3.8b

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

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.

Treasure

Market Cap: NOK 7.3b

Through its 11% interest in Hyundai Glovis Co.

Morrow Bank

Market Cap: NOK 3.1b

Provides unsecured financing to private individuals in Norway, Finland, Sweden, Netherlands, and Germany.

AF Gruppen

Market Cap: NOK 19.7b

A contracting and industrial company, provides civil engineering, construction, energy and environment, and property and offshore services in Norway and Sweden.

Arendals Fossekompani

Market Cap: NOK 7.2b

An industrial investment company, provides cyber secure satellite and mobile communications in Norway, Europe, Asia, and North America.

Norconsult

Market Cap: NOK 13.8b

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

Zalaris

Market Cap: NOK 1.8b

Provides full-service outsourced personnel and payroll services.

Atea

Market Cap: NOK 16.7b

Provides IT infrastructure and related solutions for businesses and public sector organizations in the Nordic countries and Baltic regions.

Norbit

Market Cap: NOK 11.4b

Provides technology solutions to customers in a range of industries.

Dellia Group

Market Cap: NOK 1.1b

Engages in the sale of dried fruit products.

Bouvet

Market Cap: NOK 5.8b

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

Smartoptics Group

Market Cap: NOK 2.6b

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

ABL Group

Market Cap: NOK 1.1b

An investment holding company, provides energy, and marine and engineering consultancy services to renewables, maritime, and oil and gas industries worldwide.

B2 Impact

Market Cap: NOK 6.2b

Provides various debt solutions.

Pexip Holding

Market Cap: NOK 5.9b

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

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.

NorAm Drilling

Market Cap: NOK 1.3b

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 3.6b

Owns and operates offshore service vessels.

SpareBank 1 Ringerike Hadeland

Market Cap: NOK 6.0b

A financial institution, provides various banking products and services to private and corporate customers in Norway.

SpareBank 1 Østfold Akershus

Market Cap: NOK 5.3b

Operates as a savings bank that provides various banking products and services in Norway.

BW Offshore

Market Cap: NOK 6.6b

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

Medistim

Market Cap: NOK 4.3b

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

Rogaland Sparebank

Market Cap: NOK 3.1b

An independent savings bank, provides various banking and investment products to retail and corporate customers in Norway.

Bonheur

Market Cap: NOK 9.1b

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

MPC Container Ships

Market Cap: NOK 7.8b

Owns and operates a portfolio of container vessels.

Odfjell Drilling

Market Cap: NOK 18.6b

Engages in owning and operating mobile offshore drilling units primarily in Norway and Namibia.

Multiconsult

Market Cap: NOK 4.3b

Engages in the provision of engineering design, consultancy, and architecture services in Norway, Sweden, Denmark, Poland, and internationally.

Endúr

Market Cap: NOK 4.3b

Operates as a supplier of construction and maintenance projects, services, and solutions for infrastructure in Norway and the Norwegian Continental Shelf, Sweden, and internationally.