Global Undervalued based on future growth

Verbrec

Market Cap: AU$22.2m

Primarily provides engineering, asset management, training, and infrastructure services to mining, energy, defense, and infrastructure industries in Australia, New Zealand, Papua New Guinea, and the Pacific Islands.

Clemondo Group

Market Cap: SEK 124.6m

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

ESI

Market Cap: €11.3m

Engages in the renewable energy business primarily in Italy.

Archos

Market Cap: €11.0m

Manufactures and sells consumer electronics.

Minerva Neurosciences

Market Cap: US$12.2m

A clinical-stage biopharmaceutical company, focuses on the development and commercialization of product candidates for the treatment of central nervous system diseases.

CleanBnB

Market Cap: €10.7m

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

Arcoma

Market Cap: SEK 117.6m

Develops, produces, and provides radiology solutions and digital x-ray systems worldwide.

HighCom

Market Cap: AU$19.0m

Provides specialist products and tailored solutions to military, law enforcement, government agencies, space, and commercial sectors.

91APP

Market Cap: NT$385.9m

A Software-as-a-Service company, provides retail software cloud and e-commerce value-added services in Taiwan, Hong Kong, and Malaysia.

UNITEDLABELS

Market Cap: €10.3m

Provides branded products for media and entertainment industry in Germany and internationally.

Alfio Bardolla Training Group

Market Cap: €10.2m

Provides personal finance training services in Italy and internationally.

Nidaros Sparebank

Market Cap: NOK 118.8m

A savings bank, provides loans, savings, insurance, pension products, and payment services for private and corporate customers in Norway.

Xenia Hôtellerie Solution. Società Benefit

Market Cap: €9.9m

Operates in the hospitality sector.

One Media iP Group

Market Cap: UK£8.3m

Engages in the acquisition and exploitation of mixed media intellectual property rights for distribution through the digital medium and traditional media outlets in the United Kingdom, rest of Europe, North America, and internationally.

Høland og Setskog Sparebank

Market Cap: NOK 112.1m

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

Radici Pietro Industries & Brands

Market Cap: €9.2m

Engages in the production and distribution of woven and non-woven textile coverings worldwide.

Trigon Metals

Market Cap: CA$13.7m

Engages in the acquisition, exploration, development, and maintenance of mines and mineral properties in the African continent.

Kiora Pharmaceuticals

Market Cap: US$9.6m

A clinical-stage specialty pharmaceutical company, engages in the development and commercialization of therapies for the treatment of ophthalmic diseases.

ENENSYS Technologies

Market Cap: €7.3m

Engages in the design and marketing of hardware and software solutions for media distributors in France, rest of Europe, the Middle East, Africa, the Asia Pacific, North America, and Latin America.

Cloudia Research

Market Cap: €6.5m

Operates in the IT sector in Italy.

Méthanor

Market Cap: €5.9m

A renewable energy company, finances and operates renewable energy projects in France.

sdm

Market Cap: €5.6m

Sdm SE provides security services in the Munich metropolitan region.

coinIX GmbH KGaA

Market Cap: €4.1m

A venture capital firm specializing in pre-seed to series A, startup, early-stage and growth capital investments.

Nitro Games Oyj

Market Cap: SEK 38.6m

Develops and publishes games for mobiles in the European Union, North America, the United Kingdom, and internationally.

Standard Supply

Market Cap: NOK 39.6m

Operates platform supply vessels (PSVs).

Traumhaus

Market Cap: €2.0m

Engages in the purchase, development, marketing, and sale of real estate properties.