South Korea-based SK Hynix is mulling a US stock market listing using treasury shares, as the company looks at ways to raise funds to expand production to keep up with soaring demand.

In a stock market filing, the chipmaker stated it is “considering various measures to enhance corporate value, but nothing has been finalised at this time”.

Analysts suggest the potential listing of its treasury shares on a US stock exchange would be via American Depositary Receipts, which are issued by US depositary banks, allowing foreign shares to trade in the US like domestic stocks.

The filing added it will make a further announcement when specific details are finalised, or within one month.

In its Q3 earning call at end-October, the company said due to surging demand for AI memory it had secured orders for its entire DRAM and NAND production in 2026.

At that time, the company noted it will increase capex in 2026 to boost capacity, as it registered record profit and revenue in Q3, driven by rising prices of memory products. It plans to increase the capacity at its next-generation fabrication plant in Cheongju, dedicated to producing advanced DRAM and high bandwidth memory (HBM).

The company hasn’t issued a capex guidance for 2025, but industry sources suggest it could increase 30 per cent year-on-year. Last year’s outlay was KRW16 trillion ($10.9 billion), up 90 per cent from 2023.

SK Hynix led the global DRAM market in Q3 with a 33.2 per cent share, marginally ahead of rival Samsung with a 32.6 per cent share, data from TrendForce showed.