Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

Spectrum Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes oncology drug products.

China Foods

Market Cap: HK$7.8b

An investment holding company, manufactures, distributes, markets, and sells Coca-Cola series products in the People’s Republic of China.

Corpovael. de

Market Cap: Mex$1.0b

Engages in the design, urbanization, construction, promotion, and sale of homes in Mexico.

Sangoma Technologies

Market Cap: US$266.4m

Develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications in the United States of America and internationally.

Kapsch TrafficCom

Market Cap: €103.8m

Provides intelligent transportation systems technologies, solutions, and services in Austria, Europe, the Middle East, Africa, the Asia-Pacific, and the Americas.

Premier Foods

Market Cap: UK£1.6b

Manufactures, distributes, and sells branded and own label food products in the United Kingdom, other European countries, and internationally.

XP

Market Cap: US$8.5b

Provides financial products and services in Brazil.

Acrow

Market Cap: €324.9m

Provides smart integrated construction systems across formwork, industrial services, and commercial scaffolding in Australia.

Stingray Group

Market Cap: €666.9m

Operates as a music, media, and technology company in Canada, the United States, and internationally.

Vestis

Market Cap: US$618.3m

Provides uniform rentals and workplace supplies in the United States and Canada.

ProCredit Holding

Market Cap: €597.8m

Provides commercial banking products and services for small and medium enterprises and private customers in Europe, South America, and Germany.

Casta Diva Group

Market Cap: €12.1m

Operates as a communication company in Italy and internationally.

Infinity Natural Resources

Market Cap: US$832.8m

Engages in the acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs in the United States.

Pollard Banknote

Market Cap: €551.1m

Manufactures and sells lottery and charitable gaming products and solutions in the United States, Canada, and internationally.

Koenig & Bauer

Market Cap: €249.9m

Develops and manufactures printing and postprint systems worldwide.

lastminute.com

Market Cap: CHF 165.8m

Operates in the online travel industry providing dynamic holiday packages in Italy, Spain, the United Kingdom, France, Germany, and internationally.

Copa Holdings

Market Cap: €4.7b

Through its subsidiaries, provides airline passenger and cargo transport services.

CEWE Stiftung KGaA

Market Cap: €644.9m

Operates as a photo service and online printing provider in Germany and internationally.

Persimmon

Market Cap: UK£3.6b

Operates as a house builder in the United Kingdom.

Arcadis

Market Cap: €3.7b

Offers design, engineering, architecture, and consultancy solutions for natural and built assets in The Americas, Europe, the Middle East, and the Asia Pacific.

Luceco

Market Cap: €186.1m

Manufactures and distributes wiring accessories, LED lighting, and portable power products in the United Kingdom, the Americas, Europe, the Middle East, Africa, the Asia Pacific.

q.beyond

Market Cap: €111.4m

Engages in the cloud, applications, artificial intelligence (AI), and security business in Germany and internationally.

Transcontinental

Market Cap: €1.7b

Engages in the flexible packaging business in Canada, the United States, Latin America, the United Kingdom, and internationally.

Rainbow Tours

Market Cap: €2.1b

Operates as a tour operator in Poland, the Czech Republic, Greece, Spain, Turkey, Slovakia, Lithuania, and internationally.

Colabor Group

Market Cap: CA$75.5m

Colabor Group Inc., together with its subsidiaries, markets, distributes, and wholesales food and food-related products in Canada.

Cosmo Pharmaceuticals

Market Cap: CHF 924.5m

Focuses on the development and commercialization products for gastroenterology, dermatology, and healthtech worldwide.

Sanofi

Market Cap: €106.5b

A healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, and internationally.

Austriacard Holdings

Market Cap: €204.7m

Operates as a technology company in the fields of people, authentication of object, and information management in Western Europe, Nordics, the Americas, Central and Eastern Europe, Germany, Austria, Switzerland, Türkiye, the Middle East, and Africa.

ACI Worldwide

Market Cap: US$4.9b

Develops, markets, installs, and supports software products and services for facilitating electronic payments in the United States and internationally.

Angel Oak Mortgage REIT

Market Cap: US$235.8m

A real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market.

Grand Pharmaceutical Group

Market Cap: €34.0b

An investment holding company, engages in the research and development, manufacture, and sale of pharmaceutical preparations and medical devices, biotechnology and healthcare products, and pharmaceutical raw materials.

Thungela Resources

Market Cap: €12.2b

Engages in the mining and production of thermal coal in South Africa and Australia.

Gamma Communications

Market Cap: UK£1.0b

Provides technology-based communications and software services to small, medium, and large-sized organizations in the United Kingdom, rest of Europe, and internationally.

ACT Energy Technologies

Market Cap: CA$161.5m

Provides directional drilling services to oil and natural gas companies in Canada and the United States.

Sanofi

Market Cap: €106.5b

A healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, and internationally.

Ag Growth International

Market Cap: CA$779.8m

Manufactures and distributes equipment for bulk agriculture commodities worldwide.