HCA Initial Public Offering

Do any of you know about the upcoming HCA (Hospital Corporation of America) IPO? I would include a link, but my post will be rejected if I do given I just signed up for the forum (interesting feature...I like). 

I have the opportunity to purchase shares at their initial offering price that'll be in the $27-30 range. I'm thinking about participating on a small level (100+ shares), but this would be my first dip into the stock market so I am apprehensive to do something completely stupid, which this scenario may fall under since IPO's are very risky. However, being 30 years old and planning to invest about $3k of relatively disposable funds, I'm willing to take reasonable risks and ride it out if need be. I've read the prospectus and they don't anticipate issuing dividends for awhile. 

I won't ask a true 'newbie' question like do you know if the stock will go up or down, but I am curious whether IPO's are generally initially under priced or over priced? I suppose it varies by industry and by the company itself, but are there some trends I might be able to consider? 

Thanks in advance for any tips or guidance you can offer to this specific IPO case or IPO's in general.

Thanks for reply.  Kind of the way I was leaning, but it's certainly tempting to want to get in the ground floor since I have the opportunity (wife works at HCA and they're setting aside a 5% reserve share of the IPO for employees)