Noellyn....
"Anyone that needed to sell to take up the new issue has probably done it."
If they haven't sold, and they try and sell today then the T+3 means they won't have funds settle until friday, which will be too late to BPAY funds I believe.
BPAY usually takes a day to process so you need to have it go through on Thursday if you want to be sure you will get your shares.