Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Mangold Fondkommission

Market Cap: SEK 937.0m

Provides financial services to companies, institutions, and private individuals in Sweden.

Transcorp Power

Market Cap: ₦2.3t

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

Bosch Fren Sistemleri Sanayi ve Ticaret

Market Cap: ₺19.5b

Bosch Fren Sistemleri Sanayi ve Ticaret A.S.

Master Drilling Group

Market Cap: R2.5b

An investment holding company, provides specialized drilling services to blue chip major and mid-tier companies in the mining, civil engineering, construction, and hydroelectric power sectors.

Evergent Investments

Market Cap: RON 2.4b

A publicly owned investment manager.

Inmocemento

Market Cap: €1.6b

Through its subsidiaries, engages in the cement and real estate businesses in Spain and internationally.

ABG Sundal Collier Holding

Market Cap: NOK 4.2b

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

VNV Global

Market Cap: SEK 2.8b

VNV Global AB (publ) formerly known as Vostok New Ventures Ltd., is a private equity and venture capital firm specializing in growth capital, buyout investments, incubation, seed/startup, early venture, mid venture, late venture.

Alumil Aluminium Industry

Market Cap: €162.7m

Engages in the design and production of architectural aluminum systems in Greece and internationally.

Metalpha Technology Holding

Market Cap: US$104.5m

Provides wealth management services in Hong Kong.

Deutsche Balaton

Market Cap: €240.2m

A private equity focusing on private equity investments in listed and unlisted companies, real estate investments and investments in other assets.

ANSA Merchant Bank

Market Cap: TT$2.4b

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

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.

Central Forest Group

Market Cap: JP¥22.8b

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

Soma Gold

Market Cap: CA$191.1m

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

Standard Bank

Market Cap: MK 998.4b

Provides banking and other related services in Malawi.

FRoSTA

Market Cap: €618.6m

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

Procimmo Group

Market Cap: CHF 364.9m

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

Cyprus Cement

Market Cap: €171.5m

Engages in the manufacturing and sale of cement and related business in Cyprus.

Freetrailer Group

Market Cap: €743.4m

A technology company, operates a sharing-economy platform for the free rental of trailers and cargo bikes in Denmark, Sweden, Germany, and the Netherlands.

SALUS Ljubljana d. d

Market Cap: €397.8m

Engages in the distribution, promotion, sales services, and value-added services for medicinal products or medical devices in Slovenia and internationally.

Darwin

Market Cap: €91.8m

Operates in the healthcare industry.

Liburnia Riviera Hoteli d.d

Market Cap: €154.3m

Provides accommodation and hospitality services in Croatia, Germany, Austria, Italy, Hungary, Slovenia, Ukraine, Czech, other European countries, and internationally.

Natural Food International Holding

Market Cap: HK$2.4b

An investment holding company, manufactures and sells natural health food products in China.

Digital Mediatama Maxima

Market Cap: Rp2.7t

Operates an integrated marketing platform.

Mamata Machinery

Market Cap: ₹10.2b

Mamata Machinery Limited manufacture and sells plastic bag and pouch making systems in India and internationally.

Nusantara Pelabuhan Handal

Market Cap: Rp4.2t

Manages and operates container terminals in Indonesia and internationally.

Cahaya Aero Services

Market Cap: Rp5.1t

Provides ground and cargo handling, aircraft release and maintenance, catering, facility management, and aviation training services in Indonesia.

Woori Technology Investment

Market Cap: ₩580.9b

A venture capital firm specializing in venture fund, mezzanine fund project fund, venture capital and small & medium companies investments.

Hospital Corporation of China

Market Cap: HK$819.0m

An investment holding company, owns, operates, and manages hospitals in the People’s Republic of China.

Sinopower Semiconductor

Market Cap: NT$4.2b

Engages in the research, design, manufacture, and sale of power semiconductor components and related modules in Taiwan and internationally.

Transnational Corporation of Nigeria

Market Cap: ₦416.6b

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

Wema Bank

Market Cap: ₦766.3b

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

Apacer Technology

Market Cap: NT$12.5b

Researches, designs, develops, manufactures, processes, maintains, and sells memory modules and storage memory devices in Hong Kong, Taiwan, Mainland China, the Americas, Japan, and internationally.

Synergy Innovation

Market Cap: ₩211.5b

Engages in the research and development, and investment of generic and new drugs, medical devices, and health functional foods in South Korea.