Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Zona Franca de Iquique

Market Cap: CL$220.6b

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

Kirac Galvaniz Telekominikasyon Metal Makine Insaat Elektrik Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺6.1b

Operates as a guardrail supplier company in Turkey.

MIA Teknoloji Anonim Sirketi

Market Cap: ₺15.5b

Provides software development services to public and private organizations in Turkey.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺27.2b

Gür-Sel Turizm Tasimacilik ve Servis Ticaret A.S.

Arsan Tekstil Ticaret ve Sanayi Anonim Sirketi

Market Cap: ₺4.2b

Engages in the production and sale of cotton and synthetic yarn in Turkey and internationally.

Capricorn Group

Market Cap: R11.0b

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

Morris State Bancshares

Market Cap: US$234.2m

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

Wema Bank

Market Cap: ₦347.2b

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

Izmir Firça Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺10.3b

Produces and sells various cleaning materials and painting brushes in Turkey and internationally.

First National Bank of Botswana

Market Cap: P13.5b

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

Darwin

Market Cap: €87.6m

Operates as a biotechnology company.

Standard Bank

Market Cap: MK 2.8t

Provides banking and other related services in Malawi.

Nigerian Aviation Handling

Market Cap: ₦189.3b

Provides aircraft and cargo handling, passenger handling, passenger profiling, and crew transportation services in Nigeria.

Transnational Corporation of Nigeria

Market Cap: ₦538.6b

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 69.0b

Processes heavy bitumen crude in Africa.

Senstar Technologies

Market Cap: US$109.2m

Provides physical, video, and access control security products and solutions worldwide.

Vakif Gayrimenkul Yatirim Ortakligi

Market Cap: ₺8.6b

A real estate investment trust.

ANSA Merchant Bank

Market Cap: TT$3.3b

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

Segmen Kardesler Gida Üretim ve Ambalaj Sanayi Anonim Sirketi

Market Cap: ₺4.4b

Engages in the production and sale of food products in Turkey.

La Forestière Equatoriale

Market Cap: €118.7m

Does not have any significant operations.

Inversiones Doalca SOCIMI

Market Cap: €153.0m

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

Besler Gida Ve Kimya Sanayi ve Ticaret Anonim Sirketi

Market Cap: ₺9.5b

Produces and trades in frozen and canned products in Turkey.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 300.8b

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

NICO Holdings

Market Cap: MK 902.2b

Engages in general insurance, life assurance, pension administration, banking, corporate finance advisory, asset management, and information technology (IT) businesses in in Malawi, Zambia, Uganda, and Mozambique.

Chilanga Cement

Market Cap: K6.1b

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

NSIA Banque Société Anonyme

Market Cap: XOF 236.2b

Provides various banking products and services.

Transcorp Power

Market Cap: ₦2.4t

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

Oakworth Capital

Market Cap: US$162.2m

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

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.

Dogan Burda Dergi Yayincilik Ve Pazarlama

Market Cap: ₺7.2b

Dogan Burda Dergi Yayincilik Ve Pazarlama A.S.

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.

Compañía Electro Metalúrgica

Market Cap: CL$328.9b

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

Potasios de Chile

Market Cap: CL$536.2b

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

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

MAPFRE Middlesea

Market Cap: €128.8m

Provides non-life and life insurance products and services to individuals, small and medium enterprises, professionals, and businesses in Malta.