Musk to purchase Tesla stock worth $20 million

(Reuters) - Tesla Inc <TSLA.O> Chief Executive Officer Elon Musk will purchase company stock worth $20 million in the next open trading session, the electric carmaker said in a filing on Wednesday.

The news comes weeks after Tesla and Musk agreed to pay $20 million each as fine as part of a settlement with the U.S. Securities and Exchange Commission.

Tesla said https://www.sec.gov/Archives/edgar/data/1318605/000156459018024373/tsla-8k_20181016.htm the purchase is 'separate and apart from the settlement' between Musk, Tesla and the SEC.

Shares of the company rose 2 percent in premarket trading.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur)