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.

ProCredit Holding

Market Cap: €544.2m

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

Housing and Development Bank- Egypt (S.A.E)

Market Cap: ج.م34.7b

Together with its, provides corporate and retail banking services in Egypt.

Carlsberg

Market Cap: US$104.0b

Produces and markets beer and other beverage products in Denmark, China, the United Kingdom, and internationally.

Robert Walters

Market Cap: €88.5m

Provides professional recruitment consultancy services worldwide.

Huron Consulting Group

Market Cap: US$2.1b

Provides consultancy and managed services in the United States and internationally.

Hollywood Bowl Group

Market Cap: UK£422.7m

Operates ten-pin bowling and mini-golf centers in the United Kingdom and internationally.

Vetoquinol

Market Cap: €880.0m

A veterinary pharmaceutical company, designs, develops, and sells veterinary drugs and non-medicinal products in Europe, the Americas, and the Asia Pacific region.

Renault

Market Cap: €8.9b

Engages in the design, manufacture, sale, repair, maintenance, and leasing of motor vehicles in Europe, Eurasia, Africa, the Middle East, the Asia Pacific, and the Americas.

Luceco

Market Cap: €189.1m

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.

Valeura Energy

Market Cap: €875.4m

Engages in the exploration, development, and production of petroleum and natural gas in Thailand and in Turkey.

Persimmon

Market Cap: UK£3.5b

Operates as a house builder in the United Kingdom.

CEWE Stiftung KGaA

Market Cap: €656.3m

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

Torex Gold Resources

Market Cap: US$3.7b

Operates as an intermediate gold producer.

Amneal Pharmaceuticals

Market Cap: €3.0b

A global biopharmaceutical company, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide.

DOF Group

Market Cap: €23.0b

Owns and operates a fleet of offshore and subsea vessels.

Flowco Holdings

Market Cap: US$1.4b

Through its subsidiaries, provides production optimization, artificial lift, and methane abatement solutions for the oil and natural gas industry in the United States.

Havas

Market Cap: €1.5b

Provides communications and marketing services in France, the United Kingdom, rest of Europe, North America, Latin America, the Asia-Pacific, and Africa.

Casta Diva Group

Market Cap: €12.0m

Operates as a communication company in Italy and internationally.

Colabor Group

Market Cap: CA$78.6m

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

Huhtamäki Oyj

Market Cap: €3.2b

Provides packaging solutions in the United States, Germany, the United Kingdom, India, Turkey, Australia, Thailand, Poland, South Africa, Spain, Finland, and internationally.

Chorus Aviation

Market Cap: CA$554.3m

Through its subsidiaries, provides aviation services.

Transcontinental

Market Cap: CA$1.6b

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

McEwen

Market Cap: CA$550.8m

Engages in the exploration, development, production, and sale of gold and silver deposits in the United States, Canada, Mexico, and Argentina.

Yuexiu Transport Infrastructure

Market Cap: €6.4b

Invests in, constructs, develops, operates, and manages expressways and bridges in the People’s Republic of China.

ACT Energy Technologies

Market Cap: CA$163.9m

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

Kapsch TrafficCom

Market Cap: €101.2m

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

China Mengniu Dairy

Market Cap: €64.2b

An investment holding company, manufactures and distributes dairy products under the MENGNIU brand in the People’s Republic of China and internationally.

Hikma Pharmaceuticals

Market Cap: €4.0b

Develops, manufactures, markets, and sells a range of generic, branded, and in-licensed pharmaceutical products.

Ag Growth International

Market Cap: CA$771.2m

Manufactures and distributes equipment for bulk agriculture commodities worldwide.

Aica Kogyo Company

Market Cap: €230.9b

Develops, produces, and sells chemical products, and laminates and building materials in Japan and internationally.

Anheuser-Busch InBev

Market Cap: €102.6b

Produces, distributes, exports, markets, and sells beer in North America, Middle Americas, South America, Europe, the Middle East, Africa, and the Asia Pacific.

Singulus Technologies

Market Cap: €14.7m

Develops and assembles machines and systems for thin-film coating and surface treatment processes worldwide.

Coterra Energy

Market Cap: US$18.3b

An independent oil and gas company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States.

DHT Holdings

Market Cap: US$1.8b

Through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, Norway, and India.