Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

HG Metal Manufacturing

Market Cap: S$170.3m

An investment holding company, primarily trades in steel products in Indonesia, Malaysia, Myanmar, and Singapore.

Tohoku Steel

Market Cap: JP¥16.9b

Manufactures, processes, and distributes various types of special steel products in Japan.

Hoshi Iryo-Sanki

Market Cap: JP¥16.7b

Manufactures and sells pharmaceutical medical oxygen and nitrous oxides in Japan.

Namibia Breweries

Market Cap: R6.6b

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

TSTE

Market Cap: ฿4.1b

Primarily engages in the production and distribution of food, ingredients, and confectionery products in Thailand.

Bahrain National Holding Company B.S.C

Market Cap: ب.د60.1m

Bahrain National Holding Company B.S.C., together with its subsidiaries, asset management services in the Kingdom of Bahrain and other GCC countries.

BAUER

Market Cap: €249.6m

Provides services, equipment, and products related to ground and groundwater in Germany, Europe, the Middle East, the Asia Pacific, the Americas., and Africa.

Marvipol Development

Market Cap: zł447.8m

Develops residential projects in Poland.

Sound Financial Bancorp

Market Cap: US$112.4m

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

Security Federal

Market Cap: US$109.8m

Operates as the bank holding company for Security Federal Bank that provides various banking products and services.

Banque Nationale Agricole Société anonyme

Market Cap: د.ت964.7m

Provides various banking products and services in Tunisia.

High Templar Tech

Market Cap: US$392.9m

Operates as a consumer-oriented financial technology service company in the People’s Republic of China.

Bank of the James Financial Group

Market Cap: US$106.1m

Operates as the bank holding company for Bank of the James that provides general retail and commercial banking services to individuals, businesses, associations and organizations, and governmental authorities in Virginia, the United States.

Grenobloise d'Electronique et d'Automatismes Société Anonyme

Market Cap: €99.4m

Provides electronic toll collection systems in France, rest of the European Union, rest of Europe, Asia, the Americas, and Africa.

NameSilo Technologies

Market Cap: US$123.3m

Through its subsidiaries, provides domain name registration services in the United States, East and South Asia, South East Asia, Australasia, and internationally.

Fidelity Life Assurance of Zimbabwe

Market Cap: US$62.4m

Provides life and funeral assurance, asset management, actuarial consultancy and micro-financing services in Zimbabwe and Malawi.

Lion Capital

Market Cap: RON 2.3b

SIF Banat-Crisana is a self-managed closed-end investment company and since March 2018, it is authorized by ASF as alternative investment fund manager.

First National Bank of Botswana

Market Cap: P14.4b

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 645.1b

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

Southern Michigan Bancorp

Market Cap: US$123.9m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and government agencies primarily in the southwest and south-central Michigan communities.

Caisse Régionale de Crédit Agricole Mutuel Brie Picardie Société coopérative

Market Cap: €1.7b

Provides a range of banking and financial products and services to individuals, farmers, professionals, companies, private banking, and public authorities and associations in France.

Viking Line Abp

Market Cap: €357.7m

Provides passenger and cargo carrier services.

GB Holdings

Market Cap: US$55.2m

Produces rubber and chemical products in Zimbabwe.

Steppe Gold

Market Cap: CA$361.5m

Engages in operating, developing, exploring, and acquiring precious metal projects in Mongolia and Peru.

Sopharma AD

Market Cap: €914.4m

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

Affinity Bancshares

Market Cap: US$136.5m

Operates as the holding company for Affinity Bank, National Association that provides various banking products and services in the United States.

RÁBA Jármuipari Holding Nyrt

Market Cap: Ft44.2b

Manufactures and sells vehicle components in Hungary, Germany, rest of Europe, the United States, Asia, and Australia.

Winchester Bancorp

Market Cap: US$120.5m

Operates as a bank holding company for Winchester Savings Bank that provides banking products and services in the United States.

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.

Envirotainer

Market Cap: €392.2m

Develops, produces, and markets vacuum insulation panels and phase change materials in Germany, rest of European Union, and internationally.

Chilanga Cement

Market Cap: K14.0b

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

Anbio Biotechnology

Market Cap: US$1.2b

Provides in vitro diagnostics (IVD) products in the European Union, the Asia Pacific, North America, South America, Africa, and internationally.

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

Cashmere Valley Bank

Market Cap: US$266.1m

A state chartered bank, provides banking products and services to small and middle-market businesses, and retail customers.

New Mauritius Hotels

Market Cap: MU₨7.4b

Operates hotels in Mauritius, Europe, Morocco, and internationally.