Bendigo and Adelaide Bank yesterday said it had finalised the retail component of its sale of new shares. The bank sold $121 million of shares, as planned, under the retail offer. The bank earlier sold $173 million in new shares to institutional investors.The bank said it received applications for $161 million in new shares from retail investors under the offer, which is not much of an excess in light of the huge demand in the corresponding ANZ and nab shares issues and the CBA hybrid issue over the last couple of months.