Something like this should work:
<asp:TemplateField HeaderText="Images">
<ItemTemplate>
<asp:ListView runat="server" DataSource='<%# Eval("FILES", "{0}").Split('|') %>'>
<LayoutTemplate>
<ul>
<li id="itemPlaceholder" runat="server" />
</ul>
</LayoutTemplate>
<ItemTemplate>
<li><asp:HyperLink runat="server"
NavigateUrl='<%# string.Format("http://abc.com/ic_images/commonfiles/ICImages/{0}", Container.DataItem) %>'
Text='<%# Container.DataItem %>'
Font-Underline="true"
Target="_blank"
/></li>
</ItemTemplate>
</asp:ListView>
</ItemTemplate>
</asp:TemplateField>