Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Sopharma AD

Market Cap: лв1.5b

Produces, distributes, and exports pharmaceutical products in Europe, Bulgaria, and internationally.

Transnational Corporation of Nigeria

Market Cap: ₦440.0b

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

Bank of Africa Mali

Market Cap: XOF 112.3b

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

FRoSTA

Market Cap: €634.9m

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

Inversiones Doalca SOCIMI

Market Cap: €156.6m

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 76.3b

Processes heavy bitumen crude in Africa.

Central Forest Group

Market Cap: JP¥21.7b

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

Chobe Holdings

Market Cap: P1.7b

Through its subsidiaries, engages in owning and operating ecotourism lodges and camps on leased lands in northern Botswana and the Caprivi Strip in Namibia.

Nigerian Aviation Handling

Market Cap: ₦197.8b

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

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

Market Cap: ج.م27.5b

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

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

Market Cap: ج.م22.5b

Provides various banking products and services in Egypt.

Chilanga Cement

Market Cap: K12.6b

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 464.2b

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

Telekom Networks Malawi

Market Cap: MK 363.2b

Provides telecommunication services to enterprises and individual customers in Malawi.

Gulf Insurance Group - Jordan

Market Cap: د.أ78.0m

Engages in the insurance business in Jordan, Middle East, and North Africa region.

Shangri-La Hotel

Market Cap: ฿5.4b

Operates hotels in Bangkok and Chiang Mai provinces.

A3 Mercados

Market Cap: AR$815.2b

Operates as a market for negotiable securities in Argentina and internationally.

Morris State Bancshares

Market Cap: US$264.1m

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

ASA Gold and Precious Metals

Market Cap: US$1.0b

A publicly owned investment manager.

First Northern Community Bancorp

Market Cap: US$211.3m

Operates as the bank holding company for First Northern Bank of Dixon that provides commercial banking products and services to individuals, and small and medium sized businesses.

ANSA Merchant Bank

Market Cap: TT$2.6b

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

Zambia Sugar

Market Cap: K21.1b

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

Acsion

Market Cap: R3.3b

Engages in property holding and development activities in South Africa and internationally.

Sociedad Matriz SAAM

Market Cap: CL$1.4t

Through its subsidiaries, provides tugboat services, air cargo logistics, and real estate rentals in South America, Central America, and North America.

First National Bank of Botswana

Market Cap: P13.9b

Provides various banking and related products and services to individuals, and large and small businesses in Botswana.

Affinity Bancshares

Market Cap: US$123.4m

Operates as the holding company for Affinity Bank that provides various banking products and services in Georgia.

Itafos

Market Cap: CA$560.4m

Operates as a phosphate and specialty fertilizer company.

Soma Gold

Market Cap: CA$198.2m

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

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E)

Market Cap: Mex$25.6b

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E) was founded in 2018 and is based in Mexico.

Hemlo Mining

Market Cap: CA$1.7b

Engages in gold mining.

Pure Cycle

Market Cap: US$276.6m

Provides water and wastewater services in the United States.

FRMO

Market Cap: US$331.1m

Through Horizon Kinetics, LLC, operates as an investment advisory and independent research company in the United States.

Procimmo Group

Market Cap: CHF 364.9m

A holding company, engages in the investment, management, and sale of real estate properties in Switzerland.

Capricorn Group

Market Cap: R13.2b

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

Bahrain National Holding Company B.S.C

Market Cap: ب.د61.7m

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