A "new subsidiary" is a separate company that is created and controlled by another company called the parent company. The subsidiary operates independently but is owned by the parent company. Full definition
Over the last 20 years quite a few new subsidiaries have sprouted up offering new plan designs and benefits. (bestchoicelifeinsurance.com)
On March 6, Coinbase announced its new crypto index fund which operates under a brand new subsidiary called Coinbase Asset Management which is led by Reuben Bramanathan. (disruptordaily.com)
This is the company's new subsidiary of the firm which was created specifically for the Singaporean market. (7binaryoptions.com)