Swedish Potentially Undervalued Companies

Bure Equity

Market Cap: SEK 23.3b

A private equity and venture capital firm specializing in secondary direct, later stage, middle market, mature, buyouts, emerging growth, expansion capital, mid venture, late venture, PIPES, bridge, industry consolidation, recapitalizations, growth capital, special situation and turnarounds.

Precise Biometrics

Market Cap: SEK 66.9m

Offers identification software for the secure authentication of people’s identity in Sweden, Taiwan, Denmark, Finland, Norway, and internationally.

Securitas

Market Cap: SEK 49.0b

Provides security services in North America, Europe, Latin America, Africa, the Middle East, Asia, and Australia.

Boliden

Market Cap: SEK 97.0b

Engages in the extracting, producing, and recycling of base metals in Sweden, Finland, other Nordic region, Germany, the United Kingdom, Europe, North America, and internationally.

Midsona

Market Cap: SEK 1.4b

Develops, produces, and markets organic products, consumer health products, and health foods in Sweden, Denmark, Norway, Finland, Germany, France, and Spain.

Fleming Properties

Market Cap: SEK 159.5m

Fleming Properties AB (publ) owns, manages, and develops real estate properties.

Tempest Security

Market Cap: SEK 102.5m

Provides security services worldwide.

IAR Systems Group

Market Cap: SEK 1.5b

Provides software solution and services for embedded systems development in Sweden.

Hanza

Market Cap: SEK 3.2b

Provides manufacturing solutions.

BW Energy

Market Cap: NOK 8.3b

Engages in the exploration and production of oil and gas properties.

Verve Group

Market Cap: SEK 579.3m

Operates a software platform for the automated buying and selling of digital advertising space in North America and Europe.

Tellusgruppen

Market Cap: SEK 92.8m

Through its subsidiaries, operates in the education and childcare sectors in Sweden.

TalkPool

Market Cap: SEK 53.0m

Provides network design, engineering, implementation, and managed services to telecommunications operators, system vendors, and prime contractors in Europe, America, and the Middle East.

AB Industrivärden

Market Cap: SEK 149.4b

AB Industrivärden is a publicly owned investment manager.

Arion banki hf

Market Cap: SEK 208.8b

Provides various financial services to individuals, corporates, and investors in Iceland and internationally.

AGES Industri

Market Cap: SEK 418.1m

Engages in the die casting, machining, tooling, welding, and assembly of precision components.

Dedicare

Market Cap: SEK 455.2m

Operates as a recruitment and staffing company in the healthcare, life science, and social work industry in Sweden, Norway, Finland, the United Kingdom, and Denmark.

TopRight Nordic

Market Cap: SEK 7.1m

Engages in the lighting technology, digital glass, and construction businesses.

NetJobs Group

Market Cap: SEK 25.4m

Owns and operates digital platforms and services for job advertising and employer branding primarily in Sweden, Germany, and internationally.

Kentima Holding

Market Cap: SEK 61.2m

Develops, manufactures, and sells software and hardware products for the automation and security sectors in Sweden.

Nyab

Market Cap: SEK 3.7b

Provides engineering, construction, and maintenance services to energy, infrastructure, and industrial construction projects for public and private sectors in Finland and Sweden.

Karnov Group

Market Cap: SEK 9.4b

Provides online and offline information products and services for professionals in the areas of legal, tax and accounting, environmental, and health and safety in Denmark, Norway, France, Sweden, Portugal, and Spain.

M.O.B.A. Network

Market Cap: SEK 157.6m

Owns and operates various gaming communities worldwide.

Ependion

Market Cap: SEK 4.1b

Provides digital solutions for secure control, management, visualization, and data communication for industrial applications.

Sotkamo Silver

Market Cap: SEK 298.7m

A mining and ore prospecting company, develops and utilizes mineral deposits in the Kainuu region in Finland.

Litium

Market Cap: SEK 130.7m

Provides solutions for digital commerce through the litium commerce cloud platform in Sweden.

Attendo

Market Cap: SEK 9.0b

Provides health and care services in Scandinavia and Finland.

Dometic Group

Market Cap: SEK 12.7b

Provides mobile living solutions in the areas of food and beverage, climate, power and control, and other applications.

Actic Group

Market Cap: SEK 241.2m

Operates gyms and wellness facilities in Sweden, Norway, and Germany.

AroCell

Market Cap: SEK 122.6m

A vitro diagnostics company, manufactures and sells IVD tests for oncological and bacterial diseases in Sweden.

Björn Borg

Market Cap: SEK 1.3b

Engages in the design, development, production, wholesale, and retail of underwear, sports apparel, footwear, bags, eyewear, and fragrances under the Björn Borg brand.

Eniro Group

Market Cap: SEK 316.0m

Operates as a software-as-a-service company in Sweden, Norway, Denmark, and Finland.

OKEA

Market Cap: NOK 1.8b

An oil and gas company, engages in the development and production of oil and gas in the Norwegian Continental Shelf.

Fagerhult Group

Market Cap: SEK 7.1b

Engages in the manufacture and sale of professional lighting solutions worldwide.

Aixia Group

Market Cap: SEK 148.9m

An information technology (IT) company, engages in the construction and development of IT solutions.

Cheffelo

Market Cap: SEK 484.3m

Engages in the supply and delivery of meal kits to the customer's front door in Sweden, Norway, and Denmark.