Global Undiscovered Gems With Strong Fundamentals

Gulf Island Fabrication

Market Cap: US$104.6m

Operates as a fabricator of steel structures and modules in the United States.

Taiyo KagakuLtd

Market Cap: JP¥29.5b

Manufactures and sells ingredients for food, beverage, supplement, and cosmetic applications in Japan and internationally.

Transnational Corporation of Nigeria

Market Cap: ₦445.1b

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

Capricorn Group

Market Cap: R10.9b

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

Wema Bank

Market Cap: ₦286.1b

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

Transcorp Power

Market Cap: ₦2.5t

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

Valhi

Market Cap: US$402.4m

Engages in the chemicals, component products, and real estate management and development businesses in Europe, North America, the Asia Pacific, and internationally.

Vantage

Market Cap: US$140.6m

Provides shipbroking services to the oil tanker industry in Singapore and Dubai.

Metalpha Technology Holding

Market Cap: US$119.6m

Provides wealth management services in Hong Kong.

Reitar Logtech Holdings

Market Cap: US$296.6m

Through its subsidiaries, provides construction management and engineering design services.

Alumil Aluminium Industry

Market Cap: €166.0m

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

Solesence

Market Cap: US$282.5m

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

Pure Cycle

Market Cap: US$251.8m

Provides wholesale water and wastewater services in the United States.

West Bancorporation

Market Cap: US$323.9m

Operates as the financial holding company provides community banking and trust services to individuals and small- to medium-sized businesses in the United States.

Conoil

Market Cap: ₦186.2b

Conoil Plc markets refined petroleum products, and manufactures and markets lubricants, household, and liquefied petroleum gas (LPG) in Nigeria.

First National Bank of Botswana

Market Cap: P13.3b

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

Misr Beni Suef CementE

Market Cap: ج.م7.6b

Produces and sells cement products in Egypt and internationally.

Flügger group

Market Cap: DKK 986.1m

Designs, manufactures, and markets decorative paints, wood protection products, spackling pastes, and wallpaper and tools.

Cyprus Cement

Market Cap: €132.4m

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

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

Engages in the development and manufacture of generic and in-licensed medicines in Bulgaria.

Smart Organic AD

Market Cap: лв351.6m

Engages in the production and distribution of organic products worldwide.

Evergent Investments

Market Cap: RON 1.2b

A publicly owned investment manager.

Central Cooperative Bank AD

Market Cap: лв206.0m

A commercial bank, provides various financial products and services.

First Investment Bank AD

Market Cap: лв757.4m

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

Grendene

Market Cap: R$4.9b

Engages in the development, production, distribution, and sale of footwear for women, men, and children in Brazil and internationally.

Amanat Holdings PJSC

Market Cap: د.إ2.6b

Engages in the investment in companies and enterprises in the fields of education and healthcare in the United Arab Emirates and internationally.

Jamuna Bank

Market Cap: ৳14.9b

Provides various banking products and services in Bangladesh.

Linde Bangladesh

Market Cap: ৳12.8b

Manufactures and supplies industrial and medical gases, anesthesia, and ancillary equipment in Bangladesh.

Padma Oil

Market Cap: ৳17.5b

Engages in the procurement, storage, and marketing of petroleum products, lubricants, greases, bitumen, and LPG in Bangladesh.

Viohalco

Market Cap: €1.5b

Through its subsidiaries, manufactures, and sells aluminium, copper, cables, and steel and steel pipe products.

Martifer SGPS

Market Cap: €212.2m

Operates in the metallic constructions and renewable energy development sectors in Portugal, Angola, Saudi Arabia, Europe, and internationally.

Eurofins-Cerep

Market Cap: €103.9m

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

Caisse Regionale de Credit Agricole Mutuel Toulouse 31

Market Cap: €402.5m

Operates as a cooperative bank in France.

Caisse Régionale de Crédit Agricole Mutuel Brie Picardie Société coopérative

Market Cap: €1.2b

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

Grenobloise d'Electronique et d'Automatismes Société Anonyme

Market Cap: €91.7m

Designs, develops, manufactures, integrates, installs, and maintains electronic and computerized toll collection systems.

La Forestière Equatoriale

Market Cap: €120.1m

Does not have any significant operations.