(Yicai Global) June 23 -- Wanda Film Holding Co. [SHE:002739] said today that its controlling shareholder, Beijing Wanda Investment Co., plans to spend up to CNY1 billion (USD147 million) to buy its shares over the next three months and promises not to sell those stocks within 12 months of purchases.

Shares in Wanda Film, an A-share listed company owned by Wanda Group, plummeted by 9.9 percent yesterday, close to its daily trading limit, with trading in its shares suspended at 1 p.m. A number of bonds issued by Dalian Wanda Group also reported a plunge in prices yesterday morning, with the price of its US bonds due to mature in 2024 slumping 9 percent in the overseas market. 

The China Banking Regulatory Commission (CBRC) has ordered banks to conduct spot checks on companies including Dalian Wanda Group, HNA Group, Fosun Group and Zhejiang Luosen Neili in terms of credit issuance and risk analysis, said media reports yesterday. Fosun-related stocks also slumped yesterday. Fosun International Ltd [HKG:656] was down 5.78 percent, Shanghai Fosun Pharmaceutical (Group) [HKG:2196; SHA:600196] fell 5.92 percent in the H-share market and 8.02 percent in the A-share market, and the price of Fosun's US bonds due to mature in 2022 plunged by 5 basis points to USD98.9 at one point.

Wanda Film shares resumed trading today and opened 1.69 percent higher.