Global Undervalued based on future growth

Alpcot Holding

Market Cap: SEK 182.7m

Through its subsidiaries, owns and operates a digital platform for personal finance in the financial industry in Sweden.

Flekkefjord Sparebank

Market Cap: NOK 176.9m

A savings bank, provides banking services for retail and corporate markets in Flekkefjord, Egersund, Farsund, Hægebostad, Kristiansand, Kvinesdal, Lindesnes, Lund, Lyngdal, and Sirdal and Sokndal.

Giocamondo Study

Market Cap: €15.9m

Provides tour operator services.

Mon Courtier Energie Groupe

Market Cap: €15.8m

Operates energy brokerage network in France.

SMRT Holdings Berhad

Market Cap: RM 70.6m

An investment holding company, engages information technology businesses primarily in Malaysia.

LION E-Mobility

Market Cap: €15.1m

Through its subsidiaries, engages in the development, production, and distribution of battery modules and packs, and battery management systems in Switzerland.

Confinvest F.L

Market Cap: €13.8m

Operates in gold coins, bars, ingots, and silver related businesses in Italy.

Notorious Pictures

Market Cap: €13.8m

Engages in the acquisition and production of cinematographic works in Italy.

Huize Holding

Market Cap: US$16.1m

Offers online insurance product and service platform through various internet channels in Mainland China, Hong Kong, and internationally.

SBS Nexus Berhad

Market Cap: RM 63.7m

Provides branding and marketing solutions.

Nextedia

Market Cap: €13.5m

Provides cybersecurity, cloud and digital workspace, and customer experience solutions in France.

Convergenze. Società Benefit

Market Cap: €12.6m

Provides Internet services, voice, energy, and natural gas services.

Lemon Sistemi

Market Cap: €11.8m

Designs, constructs, and installs photovoltaic systems and solar thermal systems.

Arcontech Group

Market Cap: UK£10.0m

Engages in the development and sale of proprietary software in the United Kingdom, rest of Europe, Africa, North America, Australasia, and the Asia Pacific.

Cleantek Industries

Market Cap: CA$18.2m

Manufactures and markets technology-based equipment in Western Canada and the United States.

Transense Technologies

Market Cap: UK£9.7m

Engages in the provision of specialist sensor systems in the United Kingdom, North America, South America, Australia, Europe, and internationally.

Archos

Market Cap: €11.0m

Manufactures and sells consumer electronics in France.

Bizmates

Market Cap: JP¥2.0b

Provides language and talent solutions in Japan and the Philippines.

Les Constructeurs du Bois

Market Cap: €10.7m

Designs and constructs timber buildings in France.

Nidaros Sparebank

Market Cap: NOK 118.5m

A savings bank, provides banking services for private and corporate customers in Norway.

Decollte Holdings

Market Cap: JP¥2.0b

Through its subsidiaries, primarily engages in the photo studio business in Japan.

Vantea SMART

Market Cap: €10.6m

An Information Technology company, engages in the provision of cybersecurity solutions and services in Italy.

Clemondo Group

Market Cap: SEK 111.6m

Develops, manufactures, and sells a range of hygiene and cleaning products for automotive, medical care, and industrial sectors in Sweden.

Høland og Setskog Sparebank

Market Cap: NOK 103.9m

Provides banking services for the retail and corporate markets in Norway.

ESI

Market Cap: €9.0m

Engages in the renewable energy business primarily in Italy.

Radici Pietro Industries & Brands

Market Cap: €8.8m

Offers textile flooring for offices, residential, and commercial establishments; and professionals in the cruise, ferry, and yacht sectors worldwide.

Oncodesign Precision Medicine Société anonyme

Market Cap: €8.7m

A biopharmaceutical company, engages in the precision medicine business.

ELSA Solutions

Market Cap: €8.5m

Provides products and solutions for automation and motion control in Italy.

VNE

Market Cap: €7.8m

Provides technology and devices for the management of banknotes, coins, and payments and transactions through cash and cashless systems in Italy.

Alfio Bardolla Training Group

Market Cap: €7.4m

Operates as a personal financial training company in Italy and internationally.

Raketech Group Holding

Market Cap: SEK 79.1m

Operates as an affiliate and performance marketing company worldwide.

Yakkyo

Market Cap: €7.0m

Operates an e-commerce platform in Italy and internationally.

CleanBnB

Market Cap: €6.8m

Develops, produces, and manages software and data management solutions for real estate management sector.

artec technologies

Market Cap: €5.8m

Develops software and system solutions for the transmission, recording, and analysis of video, audio, and metadata in networks or on the internet in Germany.

Finseta

Market Cap: UK£4.9m

A foreign exchange and payment company, engages in the provision of multi-currency accounts to businesses and individuals.

High Quality Food

Market Cap: €5.4m

Engages in the production, transformation, and distribution of food products in Italy and internationally.