Global Undiscovered Gems With Strong Fundamentals

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

First Investment Bank AD

Market Cap: лв790.1m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

Y.D. More Investments

Market Cap: ₪3.0b

A privately owned Investment Manager.

Mendelson Infrastructures & Industries

Market Cap: ₪565.8m

Mendelson Infrastructures & Industries Ltd.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.7b

Develops, manufactures, and sells medicines in Bulgaria.

Central Cooperative Bank AD

Market Cap: лв218.7m

A commercial bank, provides various financial products and services.

Transnational Corporation of Nigeria

Market Cap: ₦468.5b

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

FRMO

Market Cap: US$396.2m

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

Sopharma AD

Market Cap: лв1.4b

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

Capricorn Group

Market Cap: R11.2b

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

La Forestière Equatoriale

Market Cap: €102.5m

Does not have any significant operations.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 78.7b

Processes heavy bitumen crude in Africa.

Jadranski naftovod d.d

Market Cap: €806.1m

Engages in the transport and storage of oil and oil products in the Republic of Croatia and internationally.

ANSA Merchant Bank

Market Cap: TT$3.2b

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

Rich Sparkle Holdings

Market Cap: US$575.0m

Provides financial printing and corporate services in Hong Kong.

PINAGO UTAMA

Market Cap: Rp1.9t

Engages in the oil palm and rubber plantation business in Indonesia.

TSTE

Market Cap: ฿4.2b

Primarily engages in the production and distribution of wheat flour in Thailand.

Zambia Sugar

Market Cap: K16.5b

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

Nigerian Aviation Handling

Market Cap: ₦204.7b

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

C. Mer Industries

Market Cap: ₪410.2m

Provides solutions in the areas of homeland security (HLS), communication infrastructure, and defense technologies.

Standard Bank

Market Cap: MK 1.5t

Provides banking and other related services in Malawi.

GlaxoSmithKlineE

Market Cap: ج.م5.5b

Engages in production of pharmaceutical chemicals.

First National Bank of Botswana

Market Cap: P13.9b

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

Elron Ventures

Market Cap: US$125.8m

A venture capital firm specializing in early stage and seed investment.

Sparta

Market Cap: €106.8m

A publicly owned investment manager.

Transcorp Power

Market Cap: ₦2.4t

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

Rimoni Industries

Market Cap: ₪427.2m

Engages in the design, engineering, and manufacture of molds, and precise injection molding and assemblies for the medical, automotive, agricultural, high-tech, and consumer industries in Israel.

Inversiones Doalca SOCIMI

Market Cap: €154.2m

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

Eurofins-Cerep

Market Cap: €91.8m

Provides various drug discovery services to pharmaceutical, biopharmaceutical, and biotechnology companies France and internationally.

Senstar Technologies

Market Cap: US$106.6m

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

Maistra d.d

Market Cap: €601.9m

Engages in the hotel business in Croatia.

Solesence

Market Cap: US$234.7m

A science-driven company, develops, manufactures, and sells integrated family of technologies in the United States.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م26.3b

Produces and sells fertilizers.

Soma Gold

Market Cap: CA$147.8m

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

Amir Marketing and Investments in Agriculture

Market Cap: ₪424.9m

Supplies and markets agricultural inputs in Israel.

NSIA Banque Société Anonyme

Market Cap: XOF 252.3b

Provides various banking products and services.