Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

Royal Unibrew

Market Cap: DKK 24.3b

Provides beer, soft drinks, malt beverages, energy drinks, cider/ready to drink, juice, water, and wine and spirits.

Bonduelle

Market Cap: €238.3m

Produces, processes, and sells vegetables in Europe and internationally.

Crown Castle

Market Cap: US$41.5b

Crown Castle owns, operates and leases approximately 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S.

Tsingtao Brewery

Market Cap: €86.3b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

China Railway Group

Market Cap: CN¥130.0b

Operates as a multi-functional integrated construction company in Mainland China and internationally.

Trajan Group Holdings

Market Cap: AU$117.5m

Develops, manufactures, and sells analytical and life science products and devices in Malaysia, Japan, Australia, New Zealand, the United States, Europe, the Middle East, Africa, and India.

IPH

Market Cap: AU$1.0b

Provides intellectual property (IP) services and products.

Tsingtao Brewery

Market Cap: HK$86.3b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

CapitaLand Malaysia Trust

Market Cap: RM 2.1b

CapitaLand Malaysia Trust (CLMT) is a real estate investment trust (REIT) and was listed on the Main Market of Bursa Malaysia Securities Berhad on 16 July 2010.

KH Neochem

Market Cap: JP¥100.4b

Researches, manufactures, and sells of petrochemical products in Japan and internationally.

Aeon (M) Bhd

Market Cap: RM 1.8b

Operates and manages a retail chain of departmental stores and supermarkets in Malaysia.

Monash IVF Group

Market Cap: AU$261.1m

Engages in the provision of assisted reproductive and specialist women imaging services in Australia and Malaysia.

Indofood Sukses Makmur

Market Cap: Rp66.3t

Operates as a food solutions company in Indonesia, the Middle East, Africa, rest of Asia, internationally.

Acrow

Market Cap: AU$317.2m

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

Sinoma International EngineeringLtd

Market Cap: CN¥23.7b

Engages in the engineering, equipment manufacture and supply, and other businesses in China and internationally.

Central Asia Metals

Market Cap: €250.7m

Operates as a base metals producer.

Axalta Coating Systems

Market Cap: US$6.8b

Through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.

KBR

Market Cap: US$6.4b

Provides scientific, technology, and engineering solutions to governments and commercial customers worldwide.

Comcast

Market Cap: €122.1b

Operates as a media and technology company worldwide.

Renew Holdings

Market Cap: €636.4m

Provides engineering services in the United Kingdom.

Cooper Companies

Market Cap: US$13.3b

Develops, manufactures, and markets contact lens wearers.

Genpact

Market Cap: €7.4b

Provides business process outsourcing and information technology services in India, rest of Asia, North and Latin America, and Europe.

Hikma Pharmaceuticals

Market Cap: €3.6b

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

Proya CosmeticsLtd

Market Cap: CN¥32.2b

A beauty and personal care company, researches, develops, produces, and sells cosmetics in China.

Middle East Healthcare

Market Cap: ر.س4.9b

A healthcare provider, owns and operates a network of hospitals under the Saudi German Hospital name in the Middle East and North Africa.

Beijing New Building Materials

Market Cap: CN¥43.0b

Manufactures and sells building materials in China and internationally.

Industrial Bank

Market Cap: CN¥453.3b

Provides banking services in the People’s Republic of China.

Indofood Sukses Makmur

Market Cap: €66.3t

Operates as a food solutions company in Indonesia, the Middle East, Africa, rest of Asia, internationally.

Carlsberg

Market Cap: US$108.2b

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

Corebridge Financial

Market Cap: €18.0b

Provides retirement solutions and insurance products in the United States.

Stingray Group

Market Cap: €690.8m

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

TotalEnergies

Market Cap: US$113.6b

A multi-energy company, produces and markets oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables, and electricity in France, rest of Europe, and internationally.

Persimmon

Market Cap: UK£3.5b

Operates as a house builder in the United Kingdom.

Asahi Group Holdings

Market Cap: €2.7t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

PDF Solutions

Market Cap: US$765.4m

Provides proprietary software, physical intellectual property for integrated circuit designs, electrical measurement hardware tools, proven methodologies, and professional services in the United States, Japan, China, Taiwan, and internationally.