Global Undervalued based on future growth

Allcore

Market Cap: €19.5m

Through its subsidiaries, provides tax and business consulting services for small and medium-sized businesses in Italy.

Farmiera Berhad

Market Cap: RM 87.8m

Through its subsidiaries, engages in the breeding and production of broilers, processing of raw poultry products, and trading of poultry products in Malaysia.

IMS

Market Cap: zł81.7m

Primarily provides sensory marketing services in Poland.

YOC

Market Cap: €18.6m

Operates as a mobile advertising company in Germany and internationally.

Texchem Resources Bhd

Market Cap: RM 83.7m

An investment holding company, engages in industrial, polymer engineering, food, restaurant, and venture businesses.

Sogn Sparebank

Market Cap: NOK 190.6m

Provides various banking products and services in Norway.

CyberBuzz

Market Cap: JP¥3.1b

Engages in the advertising and marketing activities in Japan.

Flekkefjord Sparebank

Market Cap: NOK 184.3m

A savings bank, provides banking services for retail and corporate markets in lekkefjord, Egersund, Farsund, Hægebostad, Kvinesdal, Lindesnes, Lund, Lyngdal, and SirdalogSokndal.

Mon Courtier Energie Groupe

Market Cap: €16.0m

Operates energy brokerage network in France.

Alpcot Holding

Market Cap: SEK 172.2m

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

SBS Nexus Berhad

Market Cap: RM 68.6m

Provides branding and marketing solutions.

SMRT Holdings Berhad

Market Cap: RM 68.3m

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

Vimi Fasteners

Market Cap: €14.7m

Manufactures and supplies various fastener systems for the automotive, industrial engine and vehicle, oil and gas, and aerospace and motorsport markets in Italy and internationally.

Huize Holding

Market Cap: US$16.9m

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

Notorious Pictures

Market Cap: €14.4m

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

Confinvest F.L

Market Cap: €13.6m

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

Convergenze. Società Benefit

Market Cap: €12.3m

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

Transense Technologies

Market Cap: UK£10.4m

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

Cleantek Industries

Market Cap: CA$19.1m

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

Synergy CHC

Market Cap: US$13.7m

Provides consumer health care, beauty, and lifestyle products in the United States, Canada, and the United Kingdom.

Arcontech Group

Market Cap: UK£10.2m

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

Lemon Sistemi

Market Cap: €11.6m

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

Bizmates

Market Cap: JP¥2.1b

Provides language and talent solutions in Japan and the Philippines.

Archos

Market Cap: €11.3m

Manufactures and sells consumer electronics in France.

Nidaros Sparebank

Market Cap: NOK 119.6m

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

Les Constructeurs du Bois

Market Cap: €10.7m

Designs and constructs timber buildings in France.

Høland og Setskog Sparebank

Market Cap: NOK 114.9m

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

Vantea SMART

Market Cap: €10.3m

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

Clemondo Group

Market Cap: SEK 111.5m

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

Decollte Holdings

Market Cap: JP¥1.9b

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

ESI

Market Cap: €9.6m

Engages in the renewable energy business primarily in Italy.

VNE

Market Cap: €8.8m

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

Oncodesign Precision Medicine Société anonyme

Market Cap: €8.5m

A biopharmaceutical company, engages in the precision medicine business.

Radici Pietro Industries & Brands

Market Cap: €8.1m

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

CleanBnB

Market Cap: €7.6m

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

Finseta

Market Cap: UK£6.6m

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