[메자닌 투자파일] 동성제약, 강제인가 숨통…신주 5000만주 위협

Dongsung Pharma's restructuring through convertible bonds creates significant shareholder dilution risk, as 50 million new shares (34% increase) could flood the market from 2027, potentially eroding existing shareholders' value. Investors must monitor whether the new consortium can restore operational profitability to justify this capital dilution, making the recovery outcome critical for valuation sustainability.