Global Undiscovered Gems With Strong Fundamentals

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Citra Tubindo

Market Cap: Rp3.8t

Provides pipes and accessories, and related services to the oil and gas industries in Indonesia.

Fortune Mate Indonesia

Market Cap: Rp2.6t

Provides real estate development and construction services in Indonesia.

Pabrik Kertas Tjiwi Kimia

Market Cap: Rp18.8t

Manufactures and sells paper products in Asia, Africa, Europe, the United States, the Middle East, and internationally.

Bank Ganesha

Market Cap: Rp2.0t

Provides various general banking products and services for individuals and businesses in Indonesia.

Arsan Tekstil Ticaret ve Sanayi Anonim Sirketi

Market Cap: ₺4.0b

Engages in the production and sale of cotton and synthetic yarn in Turkey and internationally.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 65.9b

Processes heavy bitumen crude in Africa.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 278.2b

Engages in the manufacture and sale of beer, soft drinks, mineral water, alcomixes, and energy drink products.

Empresas Lipigas

Market Cap: CL$511.2b

Engages in the distribution and sale of liquefied petroleum gas (LPG) and natural gas (NG) in Chile, Peru, and Colombia.

Solesence

Market Cap: US$290.9m

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

Castellana Properties Socimi

Market Cap: €912.6m

As of December 20, 2016, Castellana Properties Socimi, S.A.

MAPFRE Middlesea

Market Cap: €130.6m

Provides non-life and life insurance to individuals, small and medium enterprises, professionals, and businesses in Malta.

Reitar Logtech Holdings

Market Cap: US$214.2m

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

Sönmez Filament Sentetik Iplik ve Elyaf Sanayi

Market Cap: ₺7.2b

Sönmez Filament Sentetik Iplik ve Elyaf Sanayi A.S.

Caisse Regionale de Credit Agricole Mutuel Toulouse 31

Market Cap: €400.7m

Operates as a cooperative bank in France.

Capricorn Group

Market Cap: R10.9b

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

Viohalco

Market Cap: €1.5b

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

Kerevitas Gida Sanayi ve Ticaret

Market Cap: ₺9.3b

Produces and trades in frozen and canned products in Turkey.

Mackolik Internet Hizmetleri Ticaret

Market Cap: ₺4.0b

Mackolik Internet Hizmetleri Ticaret A.S.

AB Traction

Market Cap: SEK 4.1b

A private equity firm specializing in distressed, middle market, later stage, mature, bridge, recapitalization, buyouts and PIPES investments.

Famous Brands

Market Cap: R6.4b

Through its subsidiaries, operates as a quick service and casual dining restaurant franchisor in the United Kingdom, South Africa, South African Development Community, Middle East, and Rest of Africa.

Morris State Bancshares

Market Cap: US$207.3m

Operates as the bank holding company for Morris Bank that provides various financial services to individuals and small businesses in Georgia.

Transcorp Power

Market Cap: ₦2.5t

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

Mark Dynamics Indonesia

Market Cap: Rp3.0t

Manufactures and sells hand former products in Indonesia and internationally.

Cita Mineral Investindo

Market Cap: Rp15.9t

Engages in bauxite mining activities in Indonesia.

Bank MNC Internasional

Market Cap: Rp2.3t

Provides various banking products and services in Indonesia.

Eurofins-Cerep

Market Cap: €103.9m

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

Bank of Africa Mali

Market Cap: XOF 72.3b

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

Zambia Sugar

Market Cap: K13.2b

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

Central Cooperative Bank AD

Market Cap: лв213.6m

A commercial bank, provides various financial products and services.

Transnational Corporation of Nigeria

Market Cap: ₦438.0b

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

Gulf Island Fabrication

Market Cap: US$100.1m

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

First National Bank of Botswana

Market Cap: P13.2b

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

Zespól Elektrocieplowni Wroclawskich KOGENERACJA

Market Cap: zł1.0b

Zespól Elektrocieplowni Wroclawskich KOGENERACJA S.A.

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.