Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Guardian Capital Group

Market Cap: CA$1.6b

Through its subsidiaries, primarily engages in the provision of investment services in Canada, the United States, the United Kingdom, and internationally.

Canal Shipping Agencies

Market Cap: ج.م8.7b

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

Empresas Lipigas

Market Cap: CL$934.5b

Provides energy solutions through the marketing, distribution, and sale of liquefied petroleum gas (LPG), natural gas (NG), liquefied natural gas (LNG), and electricity for residential, commercial, and industrial use in Chile, Colombia, Peru, and Ecuador.

Pure Cycle

Market Cap: US$241.4m

Provides water and wastewater services in the United States.

Hafary Holdings

Market Cap: S$202.4m

An investment holding company, engages in import, export, dealing, distribution, wholesale, and trading in building materials.

Mobile Telecommunications

Market Cap: R7.0b

Operates as a mobile telecommunications company in Namibia.

Namibia Breweries

Market Cap: R6.3b

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

Tchaikapharma High Quality Medicines AD

Market Cap: €872.7m

Develops, manufactures, and sells medicines in Bulgaria.

Asian Terminals

Market Cap: ₱54.0b

Operates and manages the South Harbor Port of Manila and the Port of Batangas in Batangas City in the Philippines.

Onix Solar Energy

Market Cap: ₹18.3b

Engages in the trading of non-ferrous metals in India.

Nigerian Aviation Handling

Market Cap: ₦340.1b

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

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.

Chilanga Cement

Market Cap: K15.9b

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

Smart Shooter

Market Cap: ₪981.5m

Designs and develops fire control systems in Israel, North America, Europe, Australia and New Zealand.

Bank of Africa Mali

Market Cap: XOF 130.7b

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

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

Market Cap: ج.م22.1b

Provides various banking products and services in Egypt.

Amir Marketing and Investments in Agriculture

Market Cap: ₪472.1m

Through its subsidiaries supplies and markets agricultural inputs in Israel.

Affinity Bancshares

Market Cap: US$121.0m

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

Analyst I.M.S. Investment Management Services

Market Cap: ₪1.7b

A publicly owned investment manager.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م32.6b

Produces and sells fertilizers.

Central Forest Group

Market Cap: JP¥22.6b

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

Procimmo Group

Market Cap: CHF 414.4m

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

Telekom Networks Malawi

Market Cap: MK 352.9b

Provides telecommunication services to enterprises and individual customers in Malawi.

Epsilon Energy

Market Cap: US$185.3m

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.

First Bancorp

Market Cap: US$313.4m

Operates as the bank holding company for First National Bank that provides a range of banking products and services to individual and corporate customers.

Acsion

Market Cap: R4.9b

Engages in property holding and development activities in South Africa and internationally.

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.

M+S Hydraulic AD

Market Cap: €203.1m

Engages in the production, repair, and sale of hydraulic products and systems in Bulgaria, the rest of Europe, and internationally.

Sound Financial Bancorp

Market Cap: US$116.7m

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

Colorado

Market Cap: د.م1.4b

Manufactures and distributes various paints in Morocco and internationally.

Sociedad Matriz SAAM

Market Cap: CL$1.5t

Through its subsidiaries, provides tugboat services, air cargo logistics, and real estate rentals in South America, Central America, and North America.

Potasios de Chile

Market Cap: CL$1.0t

Invests in shares and other financial instruments in Chile.

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.

Union Bankshares

Market Cap: US$107.7m

Operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking products and services in the United States.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 99.3b

Processes heavy bitumen crude in Africa.