Fair value measurement of equity instruments issued On 1 Aug. 2023, BetSports Ltd (an online gambling provider) issued 981 million ordinary shares to its parent company, TaxStars Inc. The shares were issued as consideration for the acquisition of \(100 \%\) of the shares of BetBetBet Pty Ltd (another online bookmaker). Prior to the issue of the new shares, BetSports Ltd had only one ordinary share on issue. BetSports Ltd recognised the new shares issued in its equity at \(\mathbf{\$ 9 8 1}\) million (i.e. at \(\mathbf{\$ 1}\) each). Prior to the acquisition, BetBetBet Pty Ltd had made a loss of \(\$ 100\) million for the year to \(30 \mathrm{Jun}\). 2023. BetSports Ltd recognised goodwill of \$1.1 billion for the expected synergies arising from the acquisition.

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Discuss the requirements in AASB 13/IFRS 13 that relate to the fair value measurement of equity instruments issued. In your opinion, is the fair value of the new shares issued by BetSports Ltd likely to equal \(\$ 981\) million or a lower amount? Explain.