Display multi values field as html list
Try to do it with View field template. Edit your view and check for 'Theme information'. View will suggest some suitable field template according to your field and view's name. The most common template of fields is views-view-field.tpl.php

Other specific can be:

views-view-field--&lt;my-field&gt;.tpl.php,
views-view-field--&lt;my-view&gt;.tpl.php,
views-view-field--&lt;my-view&gt;--&lt;my-field&gt;.tpl.php,
views-view-field--&lt;my-display&gt;.tpl.php,
views-view-field--&lt;my-display&gt;--&lt;my-field&gt;.tpl.php,
views-view-field--&lt;my-view&gt;--&lt;my-display&gt;.tpl.php,
views-view-field--&lt;my-view&gt;--&lt;my-display&gt;--&lt;my-field&gt;.tpl.php


Here &lt;my-field&gt;, &lt;my-view&gt;, &lt;my-display&gt; are placeholders to replace actual field, view and display name.

Create any one of template in your active theme directory and
Try print_r(get_defined_vars()); in your template to know available variables/values.