Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Practic

Market Cap: RON 760.3m

Engages in the lease and sublease of real estate properties in Romania.

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

Market Cap: ج.م27.3b

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.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م32.9b

Produces and sells fertilizers.

Canal Shipping Agencies

Market Cap: ج.م10.7b

Provides various shipping services to the international commercial fleet in Egypt.

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

Market Cap: ج.م22.0b

Provides various banking products and services in Egypt.

Bonraybio

Market Cap: NT$3.8b

A development stage company, manufactures medical instruments and solutions for the male infertility market.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.0b

Provides wholesale banking services worldwide.

Viet Nam Power Development

Market Cap: ₫2.8t

Engages in the operation and management of hydropower plants.

GB Holdings

Market Cap: US$55.0m

Produces rubber and chemical products in Zimbabwe.

Colorado

Market Cap: د.م1.3b

Manufactures and distributes various paints in Morocco and internationally.

Bank of Africa Mali

Market Cap: XOF 116.5b

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

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.

Namibia Breweries

Market Cap: R6.2b

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

A3 Mercados

Market Cap: AR$847.1b

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

FRMO

Market Cap: US$341.2m

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

Standard Bank

Market Cap: MK 998.5b

Provides banking and other related services in Malawi.

Telekom Networks Malawi

Market Cap: MK 363.2b

Provides telecommunication services to enterprises and individual customers in Malawi.

Sparta

Market Cap: €125.6m

A publicly owned investment manager.

Grendene

Market Cap: R$4.7b

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

Epsilon Energy

Market Cap: US$122.0m

A North American onshore independent natural gas and oil company, engages in the acquisition, exploration, development, gathering, and production of natural oil and gas reserves.

Envirotainer

Market Cap: €395.1m

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

Pure Cycle

Market Cap: US$287.6m

Provides water and wastewater services in the United States.

Jordanian Duty Free Shops

Market Cap: د.أ144.0m

Invests in, operates, and manages duty-free shops.

Metalpha Technology Holding

Market Cap: US$105.1m

Provides wealth management services in Hong Kong.

FRoSTA

Market Cap: €632.2m

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

ANSA Merchant Bank

Market Cap: TT$2.6b

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.

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.

Itafos

Market Cap: CA$566.2m

Operates as a phosphate and specialty fertilizer company.

Lampsa Hellenic Hotels

Market Cap: €999.8m

Operates and manages hotels in Greece, Cyprus, and Serbia.

ASA Gold and Precious Metals

Market Cap: US$1.1b

A publicly owned investment manager.

Chilanga Cement

Market Cap: K14.0b

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

Sopharma AD

Market Cap: лв1.5b

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

TSTE

Market Cap: ฿4.0b

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

Deutsche Balaton

Market Cap: €248.5m

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