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KMG Chemicals says it's moving from Nasdaq to NYSE

NEW YORK (AP) -- KMG Chemicals is jumping to the New York Stock Exchange from the Nasdaq later this month, dropping the last letter of its current ticker, "KMGB."

The company said it expects to begin trading on the NYSE on June 20 and will remain on the Nasdaq exchange until then.

CEO J. Neal Butler called the Nasdaq as a "valuable partner" but said the switch to the NYSE should be good for business.

"As the company continues to grow, we believe that NYSE Euronext, the world's largest stock exchange, will help broaden our visibility with key suppliers, customers and peers," Butler said.

KMG has a stock market value of $192 million.

Shares of KMG Chemicals Inc. rose 1.6 percent Monday, or 26 cents, to $16.86. Its stock has traded as high as $11.82 and as low as $19.48 in the past year.