Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Hoshi Iryo-Sanki

Market Cap: JP¥16.6b

Manufactures and sells pharmaceutical medical oxygen and nitrous oxides in Japan.

MAPFRE Middlesea

Market Cap: €146.3m

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 90.8b

Processes heavy bitumen crude in Africa.

Chilanga Cement

Market Cap: K14.0b

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

Hamat Group

Market Cap: ₪535.4m

Engages in the production, development, import, marketing, distribution, and sale of home design and construction finishing products for bathrooms, toilets, and kitchens in Israel and internationally.

Canal Shipping Agencies

Market Cap: ج.م9.1b

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 642.0b

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

Y.D. More Investments

Market Cap: ₪2.8b

A privately owned Investment Manager.

Union Bankshares

Market Cap: US$110.4m

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

Ideal Capital Berhad

Market Cap: RM 1.8b

An investment holding company, engages in the property development business in Malaysia.

Bank of Africa Mali

Market Cap: XOF 126.0b

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

Analyst I.M.S. Investment Management Services

Market Cap: ₪1.7b

A publicly owned investment manager.

Sociedad Matriz SAAM

Market Cap: CL$1.5t

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

Fidelity Life Assurance of Zimbabwe

Market Cap: US$73.4m

Provides life and funeral assurance, asset management, actuarial consultancy and micro-financing services in Zimbabwe and Malawi.

Banque Nationale Agricole Société anonyme

Market Cap: د.ت961.5m

Provides various banking products and services in Tunisia.

Lion Capital

Market Cap: RON 2.5b

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.

HOMAG Group

Market Cap: €392.2m

Manufactures and sells machines and solutions for wood processing and timber construction industries worldwide.

A3 Mercados

Market Cap: AR$744.6b

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

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

Market Cap: ج.م23.7b

Provides various banking products and services in Egypt.

Zimbabwe Stock Exchange Holdings

Market Cap: US$97.6m

Operates as a securities exchange.

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

Market Cap: ج.م34.5b

Engages in the establishment and management of technology zones, scientific incubators, and training centers for the preparation of researchers, transfer technology, and related services in Egypt.

Ilex Medical

Market Cap: ₪607.5m

Engages in the import, marketing, distribution and sale of medical laboratory equipment and various diagnostic products, diagnostic systems, and kits and consumables in Israel, the United States, 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.

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.

C. Mer Industries

Market Cap: ₪601.2m

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

Smart Shooter

Market Cap: ₪954.8m

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

Grendene

Market Cap: R$4.2b

Engages in the development, production, distribution, sale, and market of plastic footwear in Brazil, North America, Asia, Oceania, Europe, Central and South America, the Middle East, and Africa.

Oxford Bank

Market Cap: US$104.0m

Operates as the holding company for Oxford Bank that provides various banking products and services to various customers in Michigan.

Terminal X Online

Market Cap: ₪991.9m

Engages in the marketing and sale of fashion and lifestyle products in Israel.

M+S Hydraulic AD

Market Cap: €199.1m

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

Anbio Biotechnology

Market Cap: US$1.2b

Provides in vitro diagnostics (IVD) products in the European Union, the Asia Pacific, North America, South America, Africa, and internationally.

Master Drilling Group

Market Cap: R2.7b

An investment holding company, provides specialized drilling services to blue chip major and mid-tier companies in the mining, civil engineering, construction, and hydroelectric power sectors.

First National Bank of Botswana

Market Cap: P14.4b

Provides various banking and related products and services to individuals, and large and small businesses in Botswana.

Sopharma AD

Market Cap: €922.3m

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

Payton Industries

Market Cap: ₪566.7m

Engages in the development, production, and marketing of transformers in Israel, Asia, Europe, the United States, and internationally.