Oslo-listed Sevan Marine has changed its name to Magnora following the sale of its FPSO and gas design businesses to Singapore's Sembcorp Marine.

The company will have a new ticker, MGN, from Monday.

The change was voted through at a shareholders meeting on Friday.

The Sembcorp deal closed in September, with Magnora banking $39m from it.

Sembcorp agreed to buy Sevan's intellectual property, employees, the shares of HiLoad LNG and other assets.