there's still no announcement on where can we take the ipo form. but u can check it here
http://main.ednews.hk/listedco/listconews/search/search_active_main_c.asp starting from 28/6/07 (cause it will start ipo in 29/6/07).
there's no exact reason on y the company sets its price that "high". actually, it's all at the discretion of the company's managment. from my point of view, it is not really "high" as there are many companies which set their stock price even higher than that level.
one very valuable point to remind u is that the higher the stock price, the more that u can earn from the same % rise in stock price while comparing to those with lower stock price. therefore, i like to apply to those ipo with higher stock price.. ^^
to be honest, if u really wanna get more than 1 board lot, say 2 board lot, then u will need to AT LEAST apply for HK$100,000 (an approximate no, need to depends on the popularity of that particular ipo). of course, applying that much can ensure u to get at least 1 board lot, but the fact is it won't guarantee u get even only 1 more.. so if u are really confident that u will get >1, then u can apply margin thorugh banks or securities firms. e.g. in HSBC, apply HK$100,000 of new ipo have an annual interest 5.75%.