Well, all corporations have shares. I have a huge book of shares for my corporation, with PAR .001 initial value - unless it was reverse merger-ed into a public company, it is just a corporation filing, a step of business regardless of if it is a subsidiary or not.
Even subsidiaries are completely different legal entities, that is necessary for tax and liability purposes. A separate corporation was not filed to "hide anything" from shareholders, it is just a necessary part of the process in order to conduct business legally.
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